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Although Perfectly Competitive Markets Are Seldom Found in the Real

Question 31

Multiple Choice

Although perfectly competitive markets are seldom found in the real world, we study this market structure:


A) to gain insight into the way free markets function
B) because perfect competition demonstrates ideal outcomes which provide a point of comparison with real world outcomes
C) because many real world markets approximate perfect competition
D) all of the above answers are correct

Correct Answer:

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