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Which of the Following Statements Is TRUE? I

Question 1

Multiple Choice

Which of the following statements is TRUE? I. A free market minimizes the total costs of producing output. II. In a free marke Which of the following statements is TRUE? I. A free market minimizes the total costs of producing output. II. In a free marke III. Every firm faces the same price in a competitive market. A) I and II only B) III only C) I and III only D) I, II, and III III. Every firm faces the same price in a competitive market.


A) I and II only
B) III only
C) I and III only
D) I, II, and III

Correct Answer:

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