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In Perfect Competition,no Individual Producer Can Significantly Affect the Market

Question 35

Multiple Choice

In perfect competition,no individual producer can significantly affect the market price because


A) the market is regulated by the government
B) each producer is ignorant of the market price
C) each producer provides a very small portion of the total market supply
D) strictly enforced collusion prevents any producer from acting independently
E) each firm's product is so different that there is no market price

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