Multiple Choice
Which of the following describes the difference between the market demand curve for a perfectly competitive industry and the demand curve for a firm in this industry?
A) The market demand curve is a horizontal line; the firm's demand curve is downward sloping.
B) The market demand curve is downward sloping; the firm's demand curve is a vertical line.
C) The market demand curve cannot have a constant slope; the firm's demand curve has a slope equal to zero.
D) The market demand curve is downward sloping; the firm's demand curve is a horizontal line.
Correct Answer:
Verified
Correct Answer:
Verified
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