Multiple Choice
If a market comes close to meeting (but does not perfectly meet) all the assumptions of the theory of perfect competition, it follows that
A) the market is not perfectly competitive.
B) the theory of perfect competition still may be able to predict behavior in the market.
C) firms in the market cannot be price takers.
D) firms in the market do not try to maximize profit.
E) a and c
Correct Answer:
Verified
Correct Answer:
Verified
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