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Question
Firm's demand curve under perfect competition is a horizontal straight line.
Firm's demand curve under perfect competition is a horizontal straight line.
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Solution
The correct option is A True
True.
At a given price, a firm can sell any amount of output in a perfectly competitive market. The demand curve facing the firm is a horizontal straight line representing a perfectly elastic demand curve, since the product is homogeneous in this market.
True.
At a given price, a firm can sell any amount of output in a perfectly competitive market. The demand curve facing the firm is a horizontal straight line representing a perfectly elastic demand curve, since the product is homogeneous in this market.
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