Under perfect competition
A) many firms produce differentiated products.
B) prices are determined by the market and there are no price makers.
C) a few firms have an influence over price.
D) None of the choices are correct under perfect competition.
Correct Answer:
Verified
Q209: Which of the following statements is true?
A)Perfect
Q210: Under perfect competition
A)accounting profits are always zero
Q211: Marginal revenue at the profit-maximizing/loss-minimizing amount is
A)$4.
B)$12.
C)$14.
D)$20.
Q212: The profit-maximizing/loss-minimizing level of output
A)100 units.
B)140 units.
C)160
Q213: The firm's most efficient level would be
A)100
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