There are high barriers to entry in a perfectly competitive market.
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Q119: Market structure is determined by the asset
Q120: A perfectly competitive firm has some competitors
Q121: Short-run profits are maximized if the firm
Q122: Competitive firms can earn an economic profit
Q123: In a competitive market if a firm
Q125: In a competitive market,firms are price takers
Q126: Competitive firms will adjust the quantity supplied
Q127: When economic losses exist in a perfectly
Q128: Marginal cost is the change in total
Q129: The marginal cost curve is the short-run
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