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A feature that is not characteristic of a perfectly competitive market is firms as price takers. firms facing a perfectly elastic demand curve. O a homogenous product. barriers to entry.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

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O firms as price takers.
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a homogenous product.
O barriers to entry.
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