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Which of the Following Statements Is True

Question 7

Multiple Choice

Which of the following statements is true?


A) A perfectly competitive firm's demand curve is the market-demand curve.
B) For a monopolist,the demand curve faced by a monopolist is more elastic than the one faced by a competitive firm.
C) For a monopolist,the law of demand generally does not apply because it is the only firm in a market.
D) A monopolist's demand curve is the market-demand curve.
E) The demand curve faced by a monopolist is flatter than the market demand curve.

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