The demand curve confronting a competitive firm is
A) Horizontal,as is market demand.
B) Horizontal,while market demand is downward-sloping.
C) Downward-sloping,while market demand is flat.
Correct Answer:
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Q19: Normal profit implies that
A)Economic profit must be
Q20: Accounting costs and economic costs differ because
A)Accounting
Q21: Suppose a firm has an annual budget
Q22: Suppose a firm has an annual budget
Q23: Market structure is determined by the
A)Annual revenue,costs,and
Q25: The perfectly competitive market structure includes all
Q26: Suppose a firm has an annual budget
Q27: Entrepreneurship
A)Always involves greater rewards than risks.
B)Can result
Q28: Which of the following industries is perfectly
Q29: The demand curve for each perfectly competitive
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