If the Supply and Demand Curves in the Provided Graph

question 95

Multiple Choice

If the supply and demand curves in the provided graph represent the market supply and demand for a purely competitive industry, then the demand curve that an individual firm in the industry faces

• A)is identical to the market demand.
• B)is equal to the marginal-revenue curve, which is a flat line at P₀ .
• C)is more elastic than the market demand but has a marginal-revenue curve lying below it.
• D)has the same slope as the market demand, but at P₀ its quantity demanded is only a fraction of Q₀ .

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