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Constant Elasticty Demand Curves

Slope of firm...

Question

Slope of firm's demand curve is infinite under perfect competition.

A

True

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B

False

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Solution

The correct option is B False
Slope of firm's demand curve is infinite under perfect competition- this statement is false since the slope of horizontal line, parallel to X-axis is zero.If AR is constant, MR is equal to AR. Both are indicated by the same horizontal straight line(a situation of perfect competition)

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