Multiple Choice
Which of the following is true of the economic model of perfect competition?
A) All the assumptions of a competitive model are satisfied in almost all real-world markets.
B) The efficient outcomes of competitive markets hold only in theory and not empirically.
C) Perfect competition is characterized by its impersonal nature.
D) The outcome of perfect competition is equitable.
Correct Answer:
Verified
Correct Answer:
Verified
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