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The Assumption Under Perfect Competition of a "Homogeneous Product" Means

Question 60

Multiple Choice

The assumption under perfect competition of a "homogeneous product" means that


A) the good one firm produces is exactly the same as the good another firm produces.
B) the good one firm produces is very different than the good another produces.
C) that no firm can charge more than another for its product.
D) that no buyer will pay more for one firm's good than another's.

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