The demand curve as perceived by a perfectly competitive firm is _______.
A) flat
B) downward sloping
C) upward sloping
D) hump shaped

Name: The demand curve as perceived by a perfectly competitive firm is _______. A) flat B) downward sloping C) upward sloping D) hump shaped
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Question

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In a perfectly competitive market, the demand curve perceived by an individual firm is perfectly elastic (flat) because the firm is a price taker and can sell any quantity of the good at the market price.

The Demand Curve as Perceived by a Perfectly Competitive Firm