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In a perfectly competitive market, the type of decision a firm has to make is different in the short run than in the long run.
In a perfectly competitive market, the type of decision a firm has to make is different in the short run than in the long run. Which of the following is a example of a perfectly competitive firm's short-run decision?
A. Whether or not to change its plant size
B. The profit-maximising level of output
C. What price to charge buyers for the product
D. Whether or not to enter or exit an industry
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