Multiple Choice
Which of the following is true of a perfectly competitive market?
A) Firms experience constant returns to scale.
B) Firms face significant barriers to entry.
C) Firms experience decreasing returns to scale.
D) Each firm chooses the price at which it wants to sell its product.
E) Each seller supplies only a small fraction of the total amount in a market.
Correct Answer:
Verified
Correct Answer:
Verified
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