Multiple Choice
Which of the following statements is false?
A) The market demand curve in a perfectly competitive market is downward sloping.
B) The firm's demand curve in a perfectly competitive market is horizontal.
C) The firm's demand curve in a perfectly competitive market is perfectly elastic.
D) Marginal revenue is equal to the change in total revenue divided by the change in quantity of output.
E) none of the above
Correct Answer:
Verified
Correct Answer:
Verified
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