A Key Assumption of the Supply and Demand Model Is

question 25

Multiple Choice

A key assumption of the supply and demand model is that:

• A) each firm's good is unique and cannot be duplicated by other firms in the market.
• B) firms will continue to raise price until profits become positive.
• C) each firm in the market produces an identical good.
• D) each firm produces at a level of output at which price exceeds marginal cost.

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