The Perfect Competitor's Demand Curve Is Perfectly Elastic

question 60

Multiple Choice

The perfect competitor's demand curve is perfectly elastic

• A)only in the short run.
• B)only in the long run.
• C)in both the short and the long run.
• D)in neither the short nor the long run.

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Definitions:

Passive-Congenial

A term possibly related to passive behaviors or traits within congenial (friendly and pleasant) settings or relationships, though not a widely recognized key term.

Convenience

The quality or condition of being easy to do, use, or access, often improving efficiency or comfort.

Devitalized

Lacking in energy, vitality, or life force; often used to describe a deteriorated condition.

Rite of Passage

A ceremonial event or ritual that marks a person's transition from one status to another, often associated with cultural or religious practices.