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Which of the following statements does NOT apply to a perfectly competitive market? A) There is freedom of entry and exit of firms in the
Which of the following statements does NOT apply to a perfectly competitive market?
A)
There is freedom of entry and exit of firms in the industry.
B)
All firms have realized the possible economies of scale.
C)
Consumers prefer certain brands over others.
D)
All firms in the industry are price takers.
E)
Consumers can shop for the lowest available price.
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