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While Very Few Markets Are "Purely Competitive" According to the Strict

Question 1

Multiple Choice

While very few markets are "purely competitive" according to the strict economics definition,market analysts often use competition as


A) the benchmark from which to judge other market settings.
B) the standard of an inefficient market structure.
C) an example of a market with poor entry and exit conditions.
D) an example of a market with asymmetric information.

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