Multiple Choice
In a competitive market that is characterized by free entry and exit,what will be the result
A) All firms will operate at efficient scale in the short run.
B) All firms will operate at efficient scale in the long run.
C) The price of the product will differ across firms.
D) The number of sellers in the market will steadily decrease over time.
Correct Answer:
Verified
Correct Answer:
Verified
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