The Demand Curve for the Perfectly Competitive Industry Normally Slopes

question 132

Essay

The demand curve for the perfectly competitive industry normally slopes downward, unlike the perfect competitive firm.Why?

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Definitions:

Osmoconformer

An animal in which the salt concentration of body fluids varies along with changes in the surrounding sea water so that it stays in osmotic equilibrium with its surroundings.

Osmoregulator

An organism that regulates its internal osmotic pressure, maintaining fluid and electrolyte balance despite external conditions.

Antidiuretic Hormone

A hormone released by the pituitary gland that regulates water retention in the body by increasing the concentration of solutes in the blood.

Collecting Ducts

Tubules in the kidneys that receive urine from the nephrons and transport it into the renal pelvis and ureter.