![Mcqmate logo](https://mcqmate.com/images/logos/logo-black.png)
![Mcqmate logo](https://mcqmate.com/images/logos/logo-white.png)
McqMate
Q. |
The demand curve for a perfectly competitive firm |
A. | slopes downward as the quantity demanded increases as the firm lowers price |
B. | is a horizontal, perfectly elastic demand curve at the market price |
C. | is a straight, downward sloping curve that is price elastic at higher prices and price inelastic as price falls and approaches zero |
D. | both (b) and (c) |
Answer» B. is a horizontal, perfectly elastic demand curve at the market price |
View all MCQs in
Micro economics 2No comments yet