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Science
Economics
Pure Competition: Demand Curve
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Pure Competition: Demand Curve
Samantha Perry
7 November 2022
4.5
(107 reviews)
5 test answers
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(1)
question
A pure competitive seller is:
answer
A "price taker"
question
What is a characteristic of a purely competitive seller's demand curve?
answer
Price and marginal revenue are equal at all levels of output.
question
Price is constant or given to the individual firm selling in a purely competitive market because?
answer
Each seller supplies a negligible fraction of total supply.
question
The demand curve in a purely competitive industry is _____, while the demand curve to a single firm in that industry is____.
answer
Down-sloping, perfectly elastic.
question
A purely competitive seller's average revenue curve coincides with:
answer
Both its demand and marginal revenue curves. you suck tyler
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