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Answer to Question #229975 in Economics for Nana
Question #229975
- Which one of the following is not a requirement for or a characteristic of perfect competition? A. all market participants should have perfect knowledge of market conditions.
- B. there should be no government intervention.
- C. every firm must have the power to set its price.
- D. the good must be homogeneous.
Expert's answer
A. all market participants should have perfect knowledge of market conditions.
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