When large number of firms are present in a market

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Reference no: EM131003383

Empirical studies suggest that when a large number of firms are present in a market, prices are usually ________ and profits are usually ________ than when there are only a few firms in a market.

a. lower; higher

b. higher; lower

c. lower; lower

d. higher; higher

Reference no: EM131003383

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