The Demand Curve for a Perfectly Competitive Firm Is Horizontal

question 269

Multiple Choice

The demand curve for a perfectly competitive firm is horizontal because

• A) consumers are willing to pay any price to obtain its product.
• B) its production decisions cannot influence the market price.
• C) the firm profits from setting its price higher than the market price.
• D) its product is easy for consumers to differentiate from those of other firms.

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Definitions:

HR Manager

A professional responsible for overseeing employee recruitment, training, development, and welfare within an organization.

Employee Health

Employee health encompasses the physical and mental well-being of employees, often guided by workplace programs, practices, and policies designed to promote healthy lifestyles and prevent illness.

Pilot

A preliminary study or trial run conducted to assess feasibility, time, cost, risk, and adverse events.

Unanticipated Measurement

An unexpected value or observation that arises during the process of data collection or experimentation.