In a perfectly competitive market, firms ______.

Name: In a perfectly competitive market, firms ______.
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In a perfectly competitive market, firms have free entry, meaning there are no legal barriers to entering or exiting the market. This allows for many competitors to exist in the market, which drives prices down to the marginal cost of production. Patents and copyrights are not required in a perfectly competitive market.

In a Perfectly Competitive Market, Firms ______