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fattykay92 fattykay92
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4 years ago

Question 1.

The demand curve for each seller's product in perfect competition is horizontal at the market price because



▸

the price is set by the government.



▸

each seller is too small to affect market price.



▸

all the sellers get together and set the price.



▸

all the demanders get together and set the price.



Question 2.

In a perfectly competitive market the term "price taker" applies to



▸

only the smallest sellers and buyers.



▸

buyers but not sellers.



▸

sellers and buyers.



▸

sellers but not buyers.

Textbook 
InMicro

InMicro


Edition: 1st
Authors:
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qwer34qwer34
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fattykay92 Author
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4 years ago
Thanks
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