1.18 The demand curve for a perfectly competitive firm is… a) Perfectly inelastic b) Perfectly elastic c) Elastic d) Ine

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answerhappygod
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1.18 The demand curve for a perfectly competitive firm is… a) Perfectly inelastic b) Perfectly elastic c) Elastic d) Ine

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1.18 The demand curve for a perfectly competitive firm is… a)Perfectly inelastic b) Perfectly elastic c) Elastic d) Inelastic1.19 Monopolistic competition is characterized by… a) A single firmb) Firms earn economic profit in the long-run c) A kinked demandcurve d) None of the above 1.20 Long-run economic profits arepossible under a) Oligopoly b) Monopoly c) All of the above d) Noneof the above.
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