C-05-Q091mediumsingle_mcq
In a perfectly competitive market, what is the difference between a firm and an industry?
In a perfectly competitive market, what is the difference between a firm and an industry?
- aThey are always the same entity
- bA firm is one producer, while an industry is the collection of all firms producing similar goods
- cIndustry is foreign and firm is domestic
- dIndustry refers only to manufacturing units