The demand curve for a perfectly competitive firm's product is a (vertical/horizontal) line originating at the market price.
Question
Solution 1
The demand curve for a perfectly competitive firm's product is a horizontal line originating at the market price.
In a perfectly competitive market, individual firms are price takers, meaning they cannot influence the market price of their product. Instead, they accept the market price as give Knowee AI is a powerful AI-powered study tool designed to help you to solve study problem.
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