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Question
Many economists believe that the market for wheat in the United States is an almost perfectly competitive market. If one firm discovers a technology that makes its wheat taste better and have fewer calories than all other wheat offered in the market, the wheat market would become less competitive because
a. there would no longer be many buyers and many sellers of wheat.
b. it would no longer be easy to enter and exit the existing wheat market.
c. the products would no longer be similar in the wheat market.
d. the government would want to intervene.
e. individuals would not want to switch products.
Answer
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