Homework Answers
Ans. C) perfectly elastic
The demand curve for a perfectly competitive firm is perfectly elastic ( i.e. a horizontal demand curve parallel to the x-axis ) because it sells units of the good at the given price in the perfectly competitive market and an individual firm has no control over the given price in the market.
The demand curve cannot be perfectly inelastic because it charges the same price for every unit of good sales in the market.
The demand curve for an individual firm cannot be equal to the firm's average total cost curve because average total cost first decreases then reach its minimum level and afterward increases with increases units of good. But the demand curve will be parallel to the x-axis that means charges the same price for each every unit sold in the market.
The market demand curve in the perfectly competitive market is downward sloping but demand curve for an individual firm in the perfectly competitive market is perfectly elastic.
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the demand curve faced by a perfectly competitive firm is horizontal yes it a true or...
the
demand curve faced by a perfectly competitive firm is
horizontal
yes
it a true or false question
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DQuestion 17 2 pts A firm in a curve. market faces a demand Monopoly; perfectly elastic...
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An individual firm in a perfectly competitive market will face demand. Perfectly inelastic Upward sloping Perfectly elastic Cannot be determined from the information Downward sloping Considering jackets and sweaters, to graph an Engel curve of jackets what must be true? The price of sweaters changes The price of jackets changes Income changes Cannot be determined from the information O Utility is held constant
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the
demand curve faced by a perfectly competitive firm is
horizontal
yes
it a true or false question
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