A perfectly competitive producer faces a demand curve for its own product that is

Name: A perfectly competitive producer faces a demand curve for its own product that is
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Question

Quizplus · Accepted Answer

In a perfectly competitive market, all firms sell an identical product and face a perfectly elastic demand curve. This means that the demand curve for each individual firm is horizontal, indicating that the firm can sell as much as it wants at the going market price. Therefore, the correct answer is C) horizontal.

A Perfectly Competitive Producer Faces a Demand Curve for Its