Question: Which statement is true? ( LO1 , 3 ) a) Most fi rms in the United States are monopolistic competitors. b) Most fi rms in

Which statement is true? ( LO1 , 3 )

a) Most fi rms in the United States are monopolistic competitors.

b) Most fi rms in the United States are perfect competitors.

c) Most consumers would prefer lower prices and less product differentiation.

d) None of these statements is true.

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