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Which of the Following Statements Does NOT Apply to a Perfectly

Question 14

Multiple Choice

Which of the following statements does NOT apply to a perfectly competitive market?


A) There is freedom of entry and exit of firms in the industry.
B) Consumers can shop for the lowest available price.
C) Consumers prefer certain brands over others.
D) All firms have realized the possible economies of scale.
E) All firms in the industry are price takers.

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