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Which of the following is NOT true about a perfectly competitive market? a.The industry supply and demand interest to determine the equilibrium quantity and price.

Which of the following isNOTtrue about a perfectly competitive market?

a.The industry supply and demand interest to determine the equilibrium quantity and price.

b.The producer surplus is zero in a perfectly competitive market.

c.At competitive equilibrium, MU=P=MC.

d.At competitive equilibrium, economic surplus is maximized.

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