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Which of the Following Statements Is False

Question 133

Multiple Choice

Which of the following statements is false?


A) The market demand curve in a perfectly competitive market is downward sloping.
B) The firm's demand curve in a perfectly competitive market is horizontal.
C) The firm's demand curve in a perfectly competitive market is perfectly elastic.
D) Marginal revenue is equal to the change in total revenue divided by the change in quantity of output.
E) none of the above

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