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NEW QUESTION: 1
Which one of the following is not a key assumption of perfect competition?
A. Customers are indifferent about which firm they buy from.
B. There is freedom of entry into and exit out of the industry.
C. The level of a firm's output is small relative to the industry's total output.
D. Each firm can price its product above the industry price.
Answer: D
Explanation:
Choice "c" is correct. A key assumption of perfect competition is that the firm is a "price taker," that is, it
cannot fix the price. Accordingly, it is not true that each firm can price its product above the industry price.
Key assumptions of perfect competition include:
A. Customers are indifferent about which firm they buy from.
B. The level of a firm's output is small relative to the industry's total output.
D. There is freedom of entry into and exit out of the industry.

NEW QUESTION: 2
All scheduled work on production network equipment should be done during which of the following
periods?
A. Development life cycle
B. Business hours
C. Down time
D. Maintenance window
Answer: D

NEW QUESTION: 3

A. Option D
B. Option B
C. Option C
D. Option A
Answer: B,D