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In perfectly competitive market firms set _________________ and a perfectly competitive firm's marginal revenue _______________________ a. prices and quantities; increases as the firm's output increases.

In perfectly competitive market firms set _________________ and a perfectly competitive firm's marginal revenue _______________________ a. prices and quantities; increases as the firm's output increases. b. prices but not quantities; decreases as the firm's output increases. c. neither prices nor quantities; is sometimes below and sometimes above the selling price. d. quantities but no prices; is constant

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