If Consumers View the Output of Any Firm in a Market

question 64

Multiple Choice

If consumers view the output of any firm in a market to be identical to the output of any other firm in the market,the demand curve for the output of any given firm

• A) will be identical to the market demand curve.
• B) will be horizontal.
• C) will be vertical.
• D) cannot be determined from the information given.

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Definitions:

Percent Frequency

The relative frequency of an event or characteristic expressed as a percentage of the total number of occurrences or observations.

Relative Frequency

The ratio of the number of times a particular value occurs in a dataset to the total number of occurrences.

Crosstabulation

A method used to analyze the relationship between two or more categories of variables, often displayed in a matrix format.