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Author Question: Which of the following statements is one of the assumptions of the theory of perfect competition? (Read 43 times)

bubba123

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on: Oct 12, 2022

Question 1

The supply curve for a perfectly competitive industry is the horizontal summation of the individual firms'
◦ AVC curves above MC.
◦ short-run average cost curves.
◦ MC curves above AVC.
◦ MC curves above AFC.
◦ MC curves above ATC.

Question 2

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.
Microeconomics ¦ Ragan ¦ 17th Edition
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Marked as best answer by bubba123 on Oct 12, 2022

as4309

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Reply #1 on: Oct 12, 2022
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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bubba123

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Reply 2 on: Oct 12, 2022
Great answer, keep it coming :)

hramirez205

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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