Question: Which of the following is true regarding perfect competition? I.The firms are price takers. II.Marginal revenue equals the price of the product III.Established firms have

Which of the following is true regarding perfect competition? I.The firms are price takers. II.Marginal revenue equals the price of the product III.Established firms have no advantage over new firms Select one: A. I, II and III B. I and II C. II and III D. I only

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