The Demand Curve of a Perfectly Competitive Firm Is Determined

question 91

Multiple Choice

The demand curve of a perfectly competitive firm is determined by:

• A)the quality of the goods the firm produces.
• B)the intersection of the market demand and supply curves.
• C)the reputation of the firm.
• D)the price taking behavior in the market.

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Definitions:

Impulses

Electrical or chemical signals transmitted through neurons that facilitate communication within the brain and between the brain and the rest of the body.

Center

A point of convergence or a central focal point.

Appendices

Plural for appendix; can refer either to additional material at the end of a book or document, or to a small tube-like sac attached to the large intestine in the human body.

Appendix

A small, tube-like organ attached to the large intestine, whose function in humans is still a topic of research but is thought to be related to the immune system.