Multiple Choice
In a perfectly competitive industry (where firms are price- takers) , the market demand curve is
And the firm's demand curve is__________.
A) upward- sloping; perfectly inelastic.
B) downward- sloping; perfectly elastic.
C) upward- sloping; perfectly elastic.
D) downward- sloping; perfectly inelastic.
Correct Answer:
Verified
Correct Answer:
Verified
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