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In a perfectly competitive market the demand curve of a firm is:-
- a)Elastic
- b)Perfectly elastic
- c)Inelastic
- d)Perfectly inelastic
Correct answer is option 'B'. Can you explain this answer?
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In a perfectly competitive market the demand curve of a firm is:-a)Ela...
In a perfectly competitive market individual firms are price takers. The market demand curve slopes downward, while the firm's demand curve is a horizontal line. The firm's horizontal demand curve indicates a price elasticity of demand that is perfectly elastic.
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In a perfectly competitive market the demand curve of a firm is:-a)Ela...
In a perfectly competitive market individual firms are price takers. ... The market demand curve slopes downward, while the firm's demand curve is a horizontal line. The firm's horizontal demand curve indicates a price elasticity of demand that is perfectly elastic.
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In a perfectly competitive market the demand curve of a firm is:-a)Ela...
As AR curve is parallel to x axis due to constant price thus it is perfectly elastic
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In a perfectly competitive market the demand curve of a firm is:-a)Elasticb)Perfectly elasticc)Inelasticd)Perfectly inelasticCorrect answer is option 'B'. Can you explain this answer?
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