Which of the following statements does NOT describe a sit...
Which of the following statements does NOT describe a situation of perfect competition?
The firm faces an infinitely elastic demand curve
The firm makes no pure profit in the short run
The price does not change with changes in the output level of the firm
There is freedom of entry into and exit from the industry
The firm can sell all it produces at the market price
Correct answer is B
No explanation has been provided for this answer.
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