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    Question

    Read the given statements carefully and select the most

    appropriate option. a) Under perfect competition, the firm is not a price-maker. b) There are no restrictions on the entry or exit of firms under perfect competition.
    A Statement (a) is false & statement (b) is true. Correct Answer Incorrect Answer
    B Both statements (a) & (b) are false. Correct Answer Incorrect Answer
    C Both statements (a) & (b) are true. Correct Answer Incorrect Answer
    D Statement (a) is true & statement (b) is false. Correct Answer Incorrect Answer

    Solution

    The correct answer is C

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