A Perfectly Competitive Firm Is a Price Taker

question 183

Multiple Choice

A perfectly competitive firm is a price taker.Therefore, it faces a

• A)perfectly elastic supply curve for its output
• B)perfectly elastic demand curve for its output
• C)perfectly inelastic supply curve for its output
• D)perfectly inelastic demand curve for its output
• E)unit-elastic demand curve for its output

---

Definitions:

Trauma-Repression Hypothesis

The theory that individuals may unconsciously block memories of traumatic events as a defense mechanism.

Dissociative Disorders

A group of mental disorders that involve disruptions or discontinuity in a person's consciousness, memory, identity, or perception.

Major Characteristics

Fundamental traits or features that define or distinguish something.

Conversion Disorder

A mental condition where psychological stress manifests as neurological symptoms, such as blindness or paralysis, without a physiological cause.