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Comparision between Market Structures

in which form...

Question

in which form of market demand curve of a firm is perfectly elastic ?

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Solution

Firms under perfect competition market, face a perfectly elastic demand curve.

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Q. Under perfect competition, the price is determined by the industry. At this price a firm can sell any quantity. The AR curve is perfectly elastic. Under monopoly, firms can sell more only at a lower price. So, AR is negatively sloped.
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