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s 1-2 apply to Perfect Competition. Number of sellers? Many Unrestricted entry and exit? Yes LR economic profits possible? No Nonprice competition? No Question: Ability
s 1-2 apply to Perfect Competition. Number of sellers? Many Unrestricted entry and exit? Yes LR economic profits possible? No Nonprice competition? No Question: Ability to set price? YES or NO Product differentiation? Yes or No
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Macroeconomics
Authors: David Colander
8th edition
978-0078004407, 78004403, 978-0077247171, 77247175, 978-0077307110
