The demand curve for a firm in perfect competition is:
A) somewhat elastic.
B) somewhat inelastic.
C) perfectly inelastic.
D) perfectly elastic.

Name: The demand curve for a firm in perfect competition is: A) somewhat elastic. B) somewhat inelastic. C) perfectly inelastic. D) perfectly elastic.
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Question

Quizplus · Accepted Answer

In perfect competition, firms are price takers, meaning they can sell any quantity at the market price, resulting in a perfectly elastic demand curve.

The Demand Curve for a Firm in Perfect Competition Is