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Which one of the following statements is true? A. The demand curve for a perfectly competitive market is perfectly elastic. B. If a perfectly competitive
Which one of the following statements is true?
A. The demand curve for a perfectly competitive market is perfectly elastic.
B. If a perfectly competitive firm maximises total revenue, it maximises profit.
C. Perfectly competitive firms that make no economic profits should shutdown.
D. Perfectly competitive firms can make economic profits in the long run.
E. None of the above statements is true.
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