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Author Question: State any two properties of the perfectly competitive market.[br][br][b][color=#A83E49]Question ... (Read 35 times)

Chloeellawright

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on: Jun 30, 2018
State any two properties of the perfectly competitive market.

Question 2

For a perfectly competitive firm the break-even price is equal to the shutdown price in the short run.
 a. True
  b. False
  Indicate whether the statement is true or false


todom5090

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Reply #1 on: Jun 30, 2018
Answer to Question 1

All sellers in a perfectly competitive market are price takers. The products produced by each seller in a perfectly competitive market are homogenous.

Answer to Question 2

False


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