Multiple Choice
How does the demand for any one seller's product in perfect competition compare to the market demand for that product?
A) The demand for any one seller's product is perfectly elastic while the market demand curve is downward sloping.
B) The demand for any one seller is proportionally smaller but otherwise identical to the market demand.
C) The demand for any one seller's product is not perfectly elastic, while the market demand is perfectly elastic.
D) They are identical.
E) There is no demand for any one seller's competitively sold product.
Correct Answer:
Verified
Correct Answer:
Verified
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