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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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