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14 Which of the following represents a characteristic of pure competition: a. Standardized product b. differentiated product c. Advertising by the firm d. highly concentrated

14 Which of the following represents a characteristic of pure competition: a. Standardized product b. differentiated product c. Advertising by the firm d. highly concentrated market QUESTION 15 A firm should sell an additional unit of output if: a. MC is greater than MR Ob. MR is greater than AVC C. MR is greater than MC d. MR is greater than total cost

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