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Which of the Following Is Unique to Perfect Competition

Question 173

Multiple Choice

Which of the following is unique to perfect competition?


A) The individual firm cannot earn economic profit in the long run.
B) It is easy for new firms to enter the industry.
C) The market demand curve slopes downward.
D) The demand curve facing an individual firm is perfectly elastic.
E) The firms in the industry produce a homogeneous product.

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