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Select all of the answers that aretrue. That is, there may be more than one correct statement. A firm in a perfectly competitive market: profit-maximizes

Select all of the answers that aretrue.That is, there may be more than one correct statement.

A firm in a perfectly competitive market:

profit-maximizes where P = MC

profit-maximizes where MR = MC

is a price setter

faces a perfectly elastic demand curve

faces a demand curve that is horizontal at the market price

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