Which of the Following Statements Is Correct

question 95

Multiple Choice

Which of the following statements is correct?

• A) The demand curve for a purely competitive firm is perfectly elastic, but the demand curve for a purely competitive industry is downsloping.
• B) The demand curve for a purely competitive firm is downsloping, but the demand curve for a purely competitive industry is perfectly elastic.
• C) The demand curves are downsloping for both a purely competitive firm and a purely competitive industry.
• D) The demand curves are perfectly elastic for both a purely competitive firm and a purely competitive industry.

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Definitions:

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