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3 Written Questions

2 Multiple Choice Questions

  1. 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. is minimum of AVC curve

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. Meaning of Perfectly Comp Markets1. 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)

          

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