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Which of the following statements is one of the assumptions of the theory of perfect competition?

sam3359

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Which of the following statements is one of the assumptions of the theory of perfect competition?

Which of the following statements is one of the assumptions of the theory of perfect competition?

▸ A firm's entry to the market is regulated by the federal Competition Bureau.

▸ Firms are price setters.

▸ Consumers know the prices charged by each firm.

▸ Firms compete with each other by varying their price.

▸ Firms produce a wide variety of versions of the product.

Textbook

Microeconomics

Microeconomics

Edition: 17^th

Author: Ragan

Read 37 times

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