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Which of the following best defines imperfect competition? Select the correct answer below: a) a market type where firms are price takers with no market power b) a market type which falls between the extremes of monopoly and perfect competition; firms have more influence over the price they charge than perfectly competitive firms, but not as much as a monopoly would c) a situation where one market dominates the industry; like a monopoly, no other firm can enter the market because of high barriers to entry d) a situation where the market crumbles because a technology is no longer being used
Sagot :
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