In a Purely Competitive Market,a Company Views Its Demand Curve

question 36

Multiple Choice

In a purely competitive market,a company views its demand curve as

• A)completely price insensitive.
• B)horizontal (flat).
• C)vertical.
• D)convex.

---

Definitions:

Dollars

The official currency of the United States, also used in other countries as an official or de facto currency.

Merchandise Trade

involves the import and export of goods between countries without including services, focusing on physical products.

Trade Deficit

A situation where a country's imports exceed its exports during a specific period of time.

Welfare Rolls

A term referring to the list or number of individuals receiving welfare benefits provided by the government.