Question 4.4. In pure competition, the demand for the product of a single firm is perfectly elastic because the firm produces a unique product. inelastic because the firm produces a unique product. elastic because many other firms produce the same product. inelastic because many other firms produce the same product.
Question 4.4. In pure competition, the demand for the product of a single firm is perfectly elastic because the firm produces a unique product. inelastic because the firm produces a unique product. elastic because many other firms produce the same product. inelastic because many other firms produce the same product.
Chapter7: Perefect Competition
Section: Chapter Questions
Problem 10SQ
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Question 4.4. In pure competition, the
elastic because the firm produces a unique product.
inelastic because the firm produces a unique product.
elastic because many other firms produce the same product.
inelastic because many other firms produce the same product.
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