Which of the Following Statements Is Correct

question 1

Multiple Choice

Which of the following statements is correct?

• A) The demand curve of the perfectly competitive industry is elastic as are the demand curves facing the individual firms.
• B) The market demand curve of perfect competition is inelastic because the individual consumers are buying a homogeneous product.
• C) The market demand curve of the perfectly competitive industry is downward sloping while the demand curve of an individual firm is horizontal with a height equal to the product price.
• D) The market demand curve of the perfectly competitive industry is downward sloping, so the demand curves of the individual firms are also downward sloping.

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Definitions:

Signal Perception

The biological process through which organisms detect and respond to external cues or signals, essential for survival, communication, and interaction with the environment.

Maladaptive Response

A reaction or behavior that is counterproductive to an individual's wellbeing or survival.

Fitness Gains

An increase in an organism's genetic contribution to the next generation, often through survival and reproductive success.

Deceitful Signal

A type of communication in the animal kingdom where an organism sends a misleading signal to benefit itself at the expense of another.