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:

Subjective

Based on or influenced by personal feelings, tastes, or opinions rather than external facts or evidence.

Incarcerated

The state of being confined in prison or jail, typically as punishment for committing a crime.

Stigmatized

Negatively evaluated because of a marker that distinguishes them from others.

Negatively Evaluated

Being assessed or perceived in an unfavorable or disapproving manner based on certain criteria or standards.