In perfect competition_______. Select one: a. demand for the good or service is small relative to the minimum efficient scale of a single producer. b. the size of demand for the good or service relative to the minimum efficient scale of a single producer does not affect competition. c. demand for the good or service can be small relative to the minimum efficient scale of a single producer as long as the goods or services are not identical. d. demand for the good or service is large relative to the minimum efficient scale of a single producer.
In perfect competition_______. Select one: a. demand for the good or service is small relative to the minimum efficient scale of a single producer. b. the size of demand for the good or service relative to the minimum efficient scale of a single producer does not affect competition. c. demand for the good or service can be small relative to the minimum efficient scale of a single producer as long as the goods or services are not identical. d. demand for the good or service is large relative to the minimum efficient scale of a single producer.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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In perfect competition_______.
Select one:
a. demand for the good or service is small relative to the minimum efficient scale of a single producer.
b. the size of demand for the good or service relative to the minimum efficient scale of a single producer does not affect competition.
c. demand for the good or service can be small relative to the minimum efficient scale of a single producer as long as the goods or services are not identical.
d. demand for the good or service is large relative to the minimum efficient scale of a single producer.
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