Question
Which of the following is not necessary for a market to have a competitive price that equals marginal cost? There are more than two firms
Which of the following isnotnecessary for a market to have a competitive price that equals marginal cost?
There are more than two firms
There is relatively free entry
Products are mostly homogenous
Agents know the prices offered
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Introductory Econometrics A Modern Approach
Authors: Jeffrey M. Wooldridge
4th edition
978-0324581621, 324581629, 324660545, 978-0324660548
