ECO Week 3 23 questions A purely- or perfectly-competitive firm would be characterized by which of the following?: Large number of firms, price taker, free entry and exit, and standardized product *

ECO Week 3 23 questions A purely- or perfectly-competitive firm would be characterized by which of the following?: Large number of firms, price taker, free entry and exit, and standardized product *

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A purely- or perfectly-competitive firm would be characterized by which of the following?: Large number of firms, price taker, free entry and exit, and standardized product *

For a purely-competitive firm, price must be: equal to marginal revenue and average revenue

What will excessive or economic profits induce for a firm in any industry structure?:. entry into the market *

A pure-monopoly firm's demand curve is also the market demand curve. This kind of firm may successfully engage in price discrimination to increase its total profit if it: . segregates its market into clearly definable groups of consumers with different elasticity of demand, and prevents buyers in one market segment from reselling to buyers in another market segment. *