Business, 17.04.2020 04:56 duauifja

When perfect competition prevails, which characteristic of firms are we likely to observe? They are all price takers. They all try to operate where price equals average variable cost. They all try to operate where price equals total cost. None of them ever has diminishing marginal returns.

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When perfect competition prevails, which characteristic of firms are we likely to observe? They are...

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