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In a perfectly competitive market setting, which of thefollowing would be a true statement? Market price automatically sets itself exactly atequilibrium. Market price rarely trends

In a perfectly competitive market setting, which of thefollowing would be a true statement?

Market price automatically sets itself exactly atequilibrium.
Market price rarely trends toward the equilibrium value.
Wage rates mirror marginal revenue product levels exactly.
Wage rates trend toward marginal revenue product levels.

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A monopolistically competitive industry does notdisplay ineither the short-run, when firms aremaking ,nor in the long-run, when firms areearning .

allocative efficiency; profits and losses; negativeprofits
productive efficiency; profits and losses; zero profits
productive and allocative efficiency; profits and losses; zeroprofits
productive and allocative efficiency; profits and losses;negative profits

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