In Perfect Competition, Each Individual Firm Faces ________ Demand Curve

question 194

Multiple Choice

In perfect competition, each individual firm faces ________ demand curve.

• A) an inelastic
• B) an upward sloping
• C) a perfectly elastic
• D) a downward sloping

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Definitions:

Coil

A component that generates a magnetic field when an electric current passes through it, often used in electrical and electronic devices.

Iron Core

An iron core is a ferromagnetic material used in electrical transformers and inductors to concentrate magnetic flux and improve their efficiency.

Electro-magnet

A magnet created by an electric current passing through a coil surrounding a metal core.

Movable Part

A component within a mechanism that changes position or operates dynamically to perform a specific function.