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Which of the Following Describes the Horizontal Demand Curve Facing

Question 32

Multiple Choice

Which of the following describes the horizontal demand curve facing an individual firm in a perfectly competitive market?


A) It is a reflection of the inelastic demand for its product.
B) It is maintained only with the help of high barriers to entry.
C) It is a reflection of the firm's small size relative to the total market.
D) It violates the law of demand, which states that demand curves slope downward.

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