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6. (10 points) If a firm meets all the assumptions of perfect competition, would it have any reason to invest in research in order to
6. (10 points) If a firm meets all the assumptions of perfect competition, would it have any reason to invest in research in order to develop new technology. The assumptions of perfect competition will apply to the firm before, during and after the new technology is developed (the firm remains a perfectly competitive firm throughout the process). Please give an explanation
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