A firm in a ______________ faces a __________ demand curve.
A) perfectly competitive market;perfectly inelastic
B) perfectly competitive market;perfectly elastic
C) monopoly market;perfectly elastic
D) monopoly market;horizontal
Correct Answer:
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Q11: A sudden fall in the market demand
Q12: A sudden rise in the market demand
Q13: A perfectly competitive firm has
A)A perfectly elastic
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Q15: If a firm in a perfectly competitive
Q17: Once the patent for a drug in
Q18: A sudden decrease in the market demand
Q19: A sudden fall in the market demand
Q20: A sudden increase in the market demand
Q21: According to the indifference principle,in the long
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