In a perfectly competitive market

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    there are a few firms selling unique products.
     each firm sets its own price.
     when one firm ceases production, the market equilibrium price tends to rise.
     None of the above. In a perfectly competitive market, firms sell homogenous products and take the market price as given.
asked Jun 2, 2013 in Economics by anonymous
    

1 Answer

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None of the above. In a perfectly competitive market, firms sell homogenous products and take the market price as given.
answered Jun 3, 2013 by Xyz ~Expert~ (3,650 points)



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