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Study with Quizlet and memorize flashcards containing terms like What are the three conditions for a market to be perfectly competitive? For a market to be perfectly competitive, there must be, 1) What is a price taker? A price taker is: 2) When are firms likely to be price takers?
21 ώρες πριν · Study with Quizlet and memorize flashcards containing terms like If the demand for a good decreased, what would be the effect on the equilibrium price and quantity? a. Price would increase, and quantity would decrease. b. Price would decrease, and quantity would decrease. c. Price would increase, and quantity would increase. d. Price would decrease, and quantity would increase., If there is a ...
