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QUESTION
Understand how consumers influence the market price of goods it sells. Understand the term market power. Understand the types of cost: a. fixed? b.
- Understand how consumers influence the market price of goods it sells.
- Understand the term market power.
- Understand the types of cost:
a. fixed?
b. variable?
c. Marginal?
4. what is perfect competition?
5. What are essential conditions for the perfect competition?
