A perfectly competitive firm faces a horizontal demand curve,which implies that:
A) the price in the market never changes.
B) the firm cannot affect price by any action it takes.
C) the quantity of output produced by the firm is indeterminate.
D) the firm makes zero accounting profits.
Correct Answer:
Verified
Q10: For a perfectly competitive firm,the demand curve:
A)coincides
Q11: Which one of the following is not
Q12: Product homogeneity implies that consumers:
A)buy goods from
Q13: Which of the following will reduce the
Q14: The model of perfect competition assumes that:
A)there
Q16: The demand curve of a perfectly competitive
Q17: The assumptions of perfect competition _.
A)are satisfied
Q18: The competitive firm is known as a
Q19: Which of the following is true of
Q20: The perfectly competitive firm's demand curve is
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