All firms in an industry sell their product for the same price.This is a result of
A) collusion.
B) perfect competition.
C) a government law that specifies all firms must charge the same price.
D) a or b
E) There is not enough information to answer the question.
Correct Answer:
Verified
Q150: Exhibit 23-10 Q153: A perfectly competitive market is initially in Q157: Which of the following is not a Q159: In long-run competitive equilibrium, the market equilibrium Q161: A perfectly competitive market is initially in Q163: A firm produces the quantity of output Q164: Which of the following statements is true? Q165: If the long-run industry supply curve is Q172: The long-run industry supply curve is the Q174: A perfectly competitive market is initially in
A)A
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