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The Figure Given Below Shows the Aggregate Demand and Supply

Question 23

Multiple Choice

The figure given below shows the aggregate demand and supply curves of a perfectly competitive market.Figure 10.7
The figure given below shows the aggregate demand and supply curves of a perfectly competitive market.Figure 10.7    -Which of the following is an assumption of the monopoly model? A) There exists a large number of buyers and sellers. B) There are no close substitutes of the good. C) The firm faces a horizontal demand curve. D) There is free entry and exit of firms. E) The firm is a price taker.
-Which of the following is an assumption of the monopoly model?


A) There exists a large number of buyers and sellers.
B) There are no close substitutes of the good.
C) The firm faces a horizontal demand curve.
D) There is free entry and exit of firms.
E) The firm is a price taker.

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