Question

A perfectly competitive firm perceives its demand curve as ________ while a monopoly perceives the demand...

A perfectly competitive firm perceives its demand curve as ________ while a monopoly perceives the demand curve as ________.

A. downward-sloping; flat

B. upward-sloping; flat

C. horizontal; downward-sloping

Business   Economics   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

The demand curve for a perfectly competitive firm is horizontal. Because, they don't have any market power that is for a perfectly competitive firm the price remains constant. Due to this limitation the demand curve of the firm is equal to the price and is horizontal.

In case of monopoly the firms have market power that is they can influence the market price. Hence the demand curve faced by them is downward sloping.

A perfectly competitive firm perceives its demand curve as horizontal while a monopoly perceives the demand curve as downward sloping.

Option C.

Please contact if having any query will be obliged to you for your generous support. Your help mean a lot to me please help. Thank you

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
The demand curve for a perfectly competitive firm is ______, while the demand curve for a...
The demand curve for a perfectly competitive firm is ______, while the demand curve for a monopolist is ______. Multiple Choice perfectly elastic; perfectly inelastic perfectly elastic; downward-sloping perfectly inelastic; perfectly elastic vertical; downward-sloping
number 10 A perfectly competitive producer’s demand curve is: a. downward sloping but more elastic than...
number 10 A perfectly competitive producer’s demand curve is: a. downward sloping but more elastic than the market-demand curve. b. also the market-demand curve. c. upward sloping. d. a vertical line. e. a horizontal line.
The demand curve facing a monopolist is: Multiple Choice downward sloping, the same as that facing...
The demand curve facing a monopolist is: Multiple Choice downward sloping, the same as that facing a perfectly competitive firm. horizontal, the same as that facing a perfectly competitive firm. upward sloping, the same as that facing a perfectly competitive firm. downward sloping, unlike the horizontal demand curve facing a perfectly competitive firm.
Which of the following characterizes a perfectly competitive market? A downward-sloping demand curve facing the firm....
Which of the following characterizes a perfectly competitive market? A downward-sloping demand curve facing the firm. A selling price at the market-established equilibrium price. A few firms that compete by changing price. A horizontal demand curve for the market.
The market-demand curve for a product in a perfectly competitive market: a. is positively sloped. b....
The market-demand curve for a product in a perfectly competitive market: a. is positively sloped. b. is horizontal. c. is downward sloping. d. has elasticity equal to 1. e. is vertical.
8. The demand curve of a monopolistically competitive firm is _______ elastic than the demand curve...
8. The demand curve of a monopolistically competitive firm is _______ elastic than the demand curve of a monopoly because the monopolistically competitive firm _______. Group of answer choices more, has competitors more, is a price maker more, is monitored more closely by the government less, only a few competitors less, exists in an environment without good information 10. Which of the following is not correct for a perfectly competitive firm? Group of answer choices price equals marginal revenue average...
32.   The relationship that indicates that the perfectly competitive firm in long-run equilibrium is economically efficient...
32.   The relationship that indicates that the perfectly competitive firm in long-run equilibrium is economically efficient is that A.   long-run marginal cost equals long-run average cost at long-run average cost’s lowest value. B.   the typical firm earns neither economic profits nor economic losses. C.   marginal benefit equals long-run marginal cost. D.   demand equals marginal revenue equals average revenue equals price. 33.   The perfectly competitive lobster market is in long-run equilibrium. Following an increase in demand we would expect the typical...
The demand curve faced by individual firms under monopolistic competition is: A) perfectly elastic B) perfectly...
The demand curve faced by individual firms under monopolistic competition is: A) perfectly elastic B) perfectly inelastic C) downward sloping D) upward sloping E) the same as the market demand curve
In a monopolistic competitive​ market, the market demand is​ _______ and the demand faced by the...
In a monopolistic competitive​ market, the market demand is​ _______ and the demand faced by the individual firm is​ _______. A. perfectly​ elastic; perfectly elastic B. perfectly​ elastic; downward-sloping C. ​downward-sloping; downward-sloping D. ​downward-sloping; perfectly elastic
1. In a perfectly competitive market a firm should be increasing the output when a. marginal...
1. In a perfectly competitive market a firm should be increasing the output when a. marginal revenue is less than marginal cost. b. there are enough customers. c. marginal revenue is greater than marginal cost. d. marginal revenue is equal to marginal cost. 2. All firms operating in a perfectly competitive market produce unique goods. a.True b. False 3. In perfect competition marginal revenue is equal to price. a.True b.False 4.In perfectly competitive market the slope of marginal revenue curve...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT