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Question: which of the following is not necessarily true in a...

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Which of the following is NOT necessarily true in a market characterized by perfect competition?

Select one:

a. Consumers know all prices charged by all firms.

b. All firms produce a slightly differentiated product.

c. Firms can not freely enter the market in the short run.

d. Firms can not freely exit the market in the short run and avoid all costs.

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