Multiple Choice
The demand curve for a perfectly competitive firm
A) slopes downward as the quantity demanded increases as the firm lowers price
B) is a horizontal, perfectly elastic demand curve at the market price
C) is a straight, downward sloping curve that is price elastic at higher prices and price inelastic as price falls and approaches zero
D) both (b) and (c)
Correct Answer:
Verified
Correct Answer:
Verified
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