Which of the following is NOT a condition of a perfect competition:
A) products produced by rival firms are perfect substitutes
B) a single firm cannot affect market supply
C) unrestricted entry and exit
D) industry sales are small
E) each firm has complete knowledge about production and prices
Correct Answer:
Verified
Q4: In a perfectly competitive industry the market
Q5: Firm A and firm B both have
Q6: The graph below shows demand and marginal
Q7: In a perfectly competitive market
A)a firm must
Q8: Below,the graph on the left shows the
Q10: The graph on the left shows the
Q11: The total cost schedule for a
Q12: The graph below on the left shows
Q13: A competitive firm will maximize profit by
Q14: The graph below shows demand and marginal
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