The demand curve for a perfectly competitive firm

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    slopes downward as the quantity demanded increases as the firm lowers price.
     is a horizontal, perfectly elastic demand curve at the market price.
     is a straight, downward sloping curve that is price elastic at higher prices and price inelastic as price falls and approaches zero.
     Both 2 and 3.
asked Jun 2, 2013 in Economics by anonymous
    

1 Answer

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is a horizontal, perfectly elastic demand curve at the market price.
answered Jun 3, 2013 by Xyz ~Expert~ (3,650 points)



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