The demand curve for a perfectly competitive market is ______.

upward sloping

No worries! We‘ve got your back. Try BYJU‘S free classes today!

downward sloping

No worries! We‘ve got your back. Try BYJU‘S free classes today!

horizontal

Right on! Give the BNAT exam to get a 100% scholarship for BYJUS courses

vertical

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Open in App

Solution

The correct option is C
horizontal

The demand curve for a perfectly competitive market is horizontal as the demand is perfectly elastic. This is because all firms can sell however much they want at the market price and at the market price only.

Suggest Corrections

Similar questions

For a firm operating in a perfectly competitive market, the slope of the TR curve is

If at the market equilibrium, the supply is a vertical line and the downward sloping demand curve shifts to the right, then:

For a normal good with a downward sloping demand curve:

For an inferior good with a downward sloping demand curve:

Join BYJU'S Learning Program