When economists say that perfect competition has "many" firms,
A) they mean more than 20 firms.
B) they mean more than 50 firms.
C) they mean more than 100 firms.
D) they mean more than 200 firms.
E) they mean that there is no specific definition of "many," and that any number picked is arbitrary.
Correct Answer:
Verified
Q158: If the market price is below the
Q159: The perfect competitor's demand curve is
A)perfectly elastic.
B)perfectly
Q160: Q161: If perfect competitors are losing money in Q162: The perfect competitor can make a profit Q164: A firm's most efficient output is Q165: In the long run the perfect competitor's Q166: Which of the following is a characteristic Q167: Which is the most accurate statement? Q168: In the long run the perfect competitor
A)only
A)always its
A)There are
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