Explain Why the Demand Curve for a Competitive Firm Is

question 42

Essay

Explain why the demand curve for a competitive firm is horizontal.

---

Definitions:

Encoding

The process of converting information into a form that can be transmitted and understood by a receiver.

Meeting

A gathering of individuals or groups to discuss, decide, or collaborate on topics and issues, often with a structured agenda.

Personal Selling

A marketing strategy involving direct interaction between a sales representative and prospective buyers to finalize a sale.

Communicating Directly

implies delivering messages in a straightforward manner, ensuring clarity and reducing the chances of misunderstanding.