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3 Written questions

2 Multiple choice questions

  1. ...
  2. 1. Many buyers and many firms, all of which are small relative to the overall market
    2. Products sold are identical
    3. No barriers to new firms entering (or on firms exiting)

2 True/False questions

  1. Long-run equilibrium in a perfectly competitive market1. Many buyers and many firms, all of which are small relative to the overall market
    2. Products sold are identical
    3. No barriers to new firms entering (or on firms exiting)

          

  2. Shut-down pointis minimum of AVC curve

          

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