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Which of the Following Is True of a Perfectly Competitive

Question 26

Multiple Choice

Which of the following is true of a perfectly competitive firm?


A) It is difficult for entrepreneurs to become suppliers of a product in a perfectly competitive market structure.
B) A perfectly competitive firm has a perfectly elastic supply curve.
C) In a perfectly competitive market, an individual seller can change his or her price and it will not alter the output he or she sells.
D) A perfectly competitive seller cannot alter the quantity supplied of his or her good.
E) In a perfectly competitive market, producers and consumers have complete knowledge of the market.

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