Question: In perfect competition, which is not true? Multiple Choice There are a few large number firms. Firms produce homogenous goods. Firms are price-takers. There is

In perfect competition, which is not true? Multiple Choice There are a few large number firms. Firms produce homogenous goods. Firms are price-takers. There is free entry and exit of firms from the market.The Lerner index in the pet food industry is 0.70. Based on this information, a firm charging $33.33 per bag of food should have a marginal cost of Multiple Choice $7.00. $33.33. $10.00. $14.29

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