In a perfectly competitive market, a. every seller tries to distinguish itself by offering a better product
Question:
In a perfectly competitive market,
a. every seller tries to distinguish itself by offering a better product than its rivals.
b. every seller takes the price of its product as set by market conditions.
c. every seller tries to undercut the prices charged by its rivals.
d. one seller has successfully outcompeted its rivals so no other sellers remain.
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