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In a competitive market that is characterized by free entry and exit, what will ...

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In a competitive market that is characterized by free entry and exit, what will be the result?

All firms will operate at efficient scale in the short run.

0%

The number of sellers in the market will steadily decrease over time.

0%

none of the above

0%

The price of the product will differ across firms.

0%

All firms will operate at efficient scale in the long run.

100%

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