The Conditions for a Perfectly Competitive Market Include Which One

question 116

Multiple Choice

The conditions for a perfectly competitive market include which one of the following?

• A)Firms behave as price takers.
• B)Profits are zero in the short run.
• C)New entrants cannot threaten the position of existing firms.
• D)Firms can control prices.
• E)Firms must employ the newest technologies as soon as they are developed.

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