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Author Question: Perfect competition is a market structure in which there is: a. a contest among firms to provide ... (Read 75 times)

V@ndy87

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on: Jun 30, 2018
Perfect competition is a market structure in which there is:
 a. a contest among firms to provide good service after the sale.
  b. competition in product quality.
  c. rivalry in product design.
  d. none of these.

Question 2

A lower price elasticity of demand coefficient occurs when:
 a. many substitutes exist.
  b. the quantity demanded is more responsive.
  c. few substitutes exist.
  d. the market is broadly defined.


Brenm

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

d

Answer to Question 2

c


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