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A firm in a perfectly competitive market has no control over price because

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7 years ago

A firm in a perfectly competitive market has no control over price because

A firm in a perfectly competitive market has no control over price because
A) there is free entry and exit from the industry.
B) the government imposes price ceilings on the products produced in perfectly competitive industries.
C) the market demand for products produced in perfectly competitive industries is perfectly elastic.
D) every firmʹs product is a perfect substitute for every other firmʹs product.

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