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Author Question: Which of the following is a necessary feature of the notion of the market as a competitive process ... (Read 63 times)

WhattoUnderstand

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on: Jun 29, 2018
Which of the following is a necessary feature of the notion of the market as a competitive process and the model of perfect competition?
 
  A) Freedom of entry
  B) Price taking behavior
  C) Perfect and complete information
  D) All firms produce identical products.
  E) All of the above.

Question 2

Refer to the figure above. What is the price that the monopolistic firm would charge?
 
  A) 0
  B) 3
  C) 6
  D) 9


trog

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Reply #1 on: Jun 29, 2018
Answer to Question 1

A

Answer to Question 2

C


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