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A Market Consisting of Many Firms Producing a Homogeneous Product,having

Question 19

Multiple Choice

A market consisting of many firms producing a homogeneous product,having complete knowledge of relevant information,having no power over the product's market price,and having low barriers to entry is characteristic of


A) perfect competition.
B) monopoly.
C) monopolistic competition.
D) oligopoly.
E) a Robinson Crusoe economy.

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