All of the following are characteristics of the market structure called Perfect Competition except:
(a). Total absence of market power for the individual firms:
(b). Competitive firms become price takers but not price setters.
(c). There are usually only a very few firms that set the production.
(d). The Demand Curve for all individual firms is always horizontal.
Answers: 1
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All of the following are characteristics of the market structure called Perfect Competition except:...
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