Assume That All Firms in This Industry Have Identical Cost

question 6

Multiple Choice

Assume that all firms in this industry have identical cost functions.
The firm depicted in the graph on the right faces a demand curve that

• A)is horizontal at the market price.
• B)is downward sloping,and less than market demand curve.
• C)is the same as the marginal cost curve.
• D)is the same as the market demand curve.

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