If a Firm Is a Price Taker, Then the Demand

question 43

Multiple Choice

If a firm is a price taker, then the demand curve for the firm's product is

• A) equal to the total revenue curve.
• B) perfectly inelastic.
• C) perfectly elastic.
• D) unit elastic.

---

Definitions:

Cash

Money in the form of coins or banknotes, especially that issued by a government.

Common Courtesies

Basic polite behaviors and gestures that are universally accepted and expected within a society.

Positive Reinforcement

A behavioral principle where the introduction of a stimulus following a desired behavior increases the likelihood of the behavior recurring.

Monetary Rewards

Financial incentives given to employees or individuals as a recognition of their work, achievement, or performance.