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anthonydel117 anthonydel117
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5 years ago
Which of the following statements is TRUE about the relationship between a firm's demand curve under perfect competition and monopoly?

• Under monopoly, the demand curve is perfectly elastic; under perfect competition, the demand curve has elastic, unit-elastic and inelastic portions.

• Under perfect competition, the demand curve is perfectly elastic; under monopoly, the demand curve has elastic, unit-elastic and inelastic portions.

• We can define a demand curve under perfect competition but not under monopoly.

• The demand curves for a monopoly and perfect competition are always inelastic.
Textbook 
Economics Today: The Micro View

Economics Today: The Micro View


Edition: 19th
Author:
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brigettelearnbrigettelearn
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5 years ago
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anthonydel117 Author
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5 years ago
Helped a lot
zbmallo3
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Yesterday
Thanks
Jose^2
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2 hours ago
I appreciate what you did here, answered it right Smiling Face with Open Mouth
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