If a Market Comes Close to Meeting (But Does Not

question 40

Multiple Choice

If a market comes close to meeting (but does not perfectly meet) all the assumptions of the theory of perfect competition, it follows that

• A)the market is not perfectly competitive.
• B)the theory of perfect competition still may be able to predict behavior in the market.
• C)firms in the market cannot be price takers.
• D)firms in the market do not try to maximize profit.

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