Each Firm in a Perfectly Competitive Industry

Multiple Choice

Each firm in a perfectly competitive industry

A) produces a good that is slightly different from that of the other firms.
B) produces a good that is identical to that of the other firms.
C) attains economies of scale so that its efficient size is large compared to the market as a whole.
D) has control over at least one unique resource to separate themselves from their competitors.
E) has an important influence on the market price of the good or service being produced.