Answered

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1. Which scenario below best represents a perfect competition?

a. Two new burger fast food restaurants open to compete with the many other franchised restaurants in
town.
b. Sofa Mart and Chairtopia together control 80% of the couch market in the country.
c. Hundreds of firms compete against one another to sell tomatoes in a large regional market.
d. A local company wins a bid to be the sole phone and internet service provider in the region.

Sagot :

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