For a firm in a perfectly competitive industry, the demand curve for its own product is

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In a perfectly competitive market, firms are price takers and cannot individually affect the market price of the product. Therefore, the demand curve for the firm's product is perfectly elastic or horizontal at the market price. The firm can sell as much output as it wants at the prevailing market price, but any attempt to charge a higher price will result in losing all customers to rival firms in the industry.

For a Firm in a Perfectly Competitive Industry, the Demand