When perfect competition prevails,which characteristic of firms are we likely to observe?
A) They erect and maintain barriers to new firms.
B) There are not many of them.
C) They all try to highlight the substantial product differentiation between producers.
D) They are all price takers.
Correct Answer:
Verified
Q29: _ almost always take the market price
Q30: If a perfectly competitive firm decreases production
Q31: In a perfectly competitive industry,the market demand
Q32: If a perfectly competitive gardening shop sells
Q33: Total revenue is a firm's:
A)change in revenue
Q35: Marginal revenue:
A)is the slope of the average
Q36: In perfect competition:
A)a firm's total revenue is
Q37: If a perfectly competitive firm increases production
Q38: Marginal revenue is a firm's:
A)ratio of profit
Q39: The marginal revenue received by a firm
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