Which of the Following Observations Is Not True

question 199

Multiple Choice

Which of the following observations is not true?

• A)Demand curve of the perfectly competitive firm is perfectly elastic.
• B)There is only one price for a product in a perfectly competitive market.
• C)A firm in a perfectly competitive market can sell as much as it wants at market price.
• D)Demand curve of the perfectly competitive industry is perfectly elastic.

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Definitions:

Whales

Large aquatic mammals belonging to the order Cetacea, which includes various species such as the blue whale and the humpback whale.

Mammals

A class of warm-blooded vertebrate animals that have, in the female, milk-secreting organs for feeding the young.

Compound Proposition

A statement formed by combining two or more propositions using logical connectives such as "and," "or," "if...then."

Asserted

Stated positively or affirmed with confidence.