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  3. Study Set
    Managerial Economics Study Set 4
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    Exam 8: Pricing and Output Decisions: Perfect Competition and Monopoly Appendices 8A and 8B
  5. Question
    What Does It Mean to Say That a Perfectly Competitive
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What Does It Mean to Say That a Perfectly Competitive

Question 30

Question 30

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What does it mean to say that a perfectly competitive firm is a price taker? Can't a firm set any price it chooses?

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A firm can set any price it chooses,but ...

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