Perfect competition implies that Select one: a. there are many firms in the industry. b. all firms are price takers. c. All of the choices are correct. d. all firms are producing the same identical product.
Perfect competition implies that Select one: a. there are many firms in the industry. b. all firms are price takers. c. All of the choices are correct. d. all firms are producing the same identical product.
Chapter24: Perfect Competition
Section: Chapter Questions
Problem 8E
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Select one:
a. there are many firms in the industry.
b. all firms are price takers.
c. All of the choices are correct.
d. all firms are producing the same identical product.
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