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If there is perfect competition, a. The price mark-up will be equal to 1 b. The price mark-up will be equal to zero c. The

If there is perfect competition,

a. The price mark-up will be equal to 1

b. The price mark-up will be equal to zero

c. The real wage will be equal to 1

d. The nominal wage will be equal to the price level

e. B., c. and d. are possible

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