Which of the following is relevant for a perfectly competitive industry? ( a) Industry equilibrium is affected
Question:
Which of the following is relevant for a perfectly competitive industry?
(
a) Industry equilibrium is affected by the change in firm’s equilibrium.
(
b) Change in industry’s equilibrium affects firm’s equilibrium.
(
c) Change in industry’s equilibrium does not affect firm’s equilibrium.
(
d) Change in firm’s equilibrium does not affect industry’s equilibrium.
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