Economists study perfect competition
A) because many markets are perfectly competitive.
B) for its descriptive realism.
C) to establish a benchmark by which to measure the performance of the economy.
D) All of the responses are correct.
Correct Answer:
Verified
Q92: For a perfectly competitive firm, marginal revenue
Q93: Which of the following is a characteristic
Q94: Which requirement for perfect competition rules out
Q95: Which of the following markets most closely
Q96: A perfectly competitive firm is a price
A)giver.
B)taker.
C)maker.
D)leader.
Q98: Which of the following decisions cannot be
Q99: What is the nature of the elasticity
Q100: A firm facing a horizontal demand curve
A)cannot
Q101: At a perfectly competitive firm's short-run equilibrium
Q102: Table 10-1 
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