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Business, 19.11.2019 22:31 jblac

For a perfectly competitive firm,
a. demand is perfectly inelastic.
b. demand is perfectly elastic.
c. producers must lower the price of its product in order to sell additional units of the product.
d. price equals marginal revenue only for the first unit of the good produced and sold.

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For a perfectly competitive firm,
a. demand is perfectly inelastic.
b. demand is perfe...
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