Which of the following statements about perfectly competitive markets is not correct?
A) In the short run,firms can earn economic profits or suffer economic losses.
B) The market demand curve is downward sloping.
C) The demand curve facing an individual firm is perfectly elastic.
D) In the long run,firms can earn economic profits or suffer economic losses.
E) In the long run,firms can enter or exit the market.
Correct Answer:
Verified
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