The Figure Given Below Shows the Aggregate Demand and Supply

question 23

Multiple Choice

The figure given below shows the aggregate demand and supply curves of a perfectly competitive market.Figure 10.7

-Which of the following is an assumption of the monopoly model?

• A)There exists a large number of buyers and sellers.
• B)There are no close substitutes of the good.
• C)The firm faces a horizontal demand curve.
• D)There is free entry and exit of firms.
• E)The firm is a price taker.

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