Perfectly competitive firms are price takers because. . Select one: a. Their demand curves are downward sloping. b. There are no good substitutes for their goods. c. Many other firms produce identical products d. Each firm is very large

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A: In perfect competition there are large number of firms selling identical goods.

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Q: The Competitive Equilibrium. TC = 1600 + 4Q². Consider a competitive firm with the cost functic a.…

A: TC = 1600 + 4Q2

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A: In perfect competition there are many firms producing identical goods.

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Q: Choose the correct one

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A: Since you have asked multiple question, we will solve the first question for you. If you want any…

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A: “Since you have asked multiple questions, we will solve the first question for you. If you want any…

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Q: What is the main characteristic of a perfectly competitive market? A. Many sellers with…

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A: In a perfectly competitive market there are large number of firms selling identical products.

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A: The correct option is A.

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A: Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the question and…

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A: A competitive firm is a price taker as there are large number of firms selling identical goods

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A: Since you have asked multiple questions, we will solve the first question for you. If you want any…