Which of the following is false about perfect competition? a. Perfectly competitive firms sell homogeneous products. b.

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Which of the following is false about perfect competition?

a. Perfectly competitive firms sell homogeneous products.

b. A perfectly competitive industry allows easy entry and exit.

c. A perfectly competitive firm must take the market price as given.

d. A perfectly competitive firm produces a substantial fraction of the industry output.

e. All of the above are true.

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Exploring Microeconomics

ISBN: 9781544339443

8th Edition

Authors: Robert L. Sexton

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Question Posted: May 19, 2024 03:03 AM

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Which of the following is false about perfect competition? a. Perfectly competitive firms sell homogeneous products. b.

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Exploring Microeconomics

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