The horizontal demand curve faced by the perfectly competitive firm implies that the firm can sell an infinite amount of the product at the equilibrium price.
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Q3: In long-run competitive equilibrium, no firm has
Q4: A perfectly competitive firm should shut down
Q5: A perfectly competitive firm is a price
Q6: When a firm produces the quantity of
Q7: In order for a firm to earn
Q9: When the government imposes taxes on firms
Q10: Real-world markets that approximate the four assumptions
Q11: A decreasing-cost industry has a long-run supply
Q12: The perfectly competitive firm's short-run supply curve
Q13: Which of the following is not an
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