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Demand Curve of a Firm is Perfectly Elastic Under: (Choose the Correct Alternative) - Economics

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Demand curve of a firm is perfectly elastic under: (Choose the correct alternative)

(a) Perfect competition

(b) Monopoly

(c) Monopolistic competition

(d) Oligopoly

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Solution

The correct option is (a). Demand curve of a firm is perfectly elastic, i.e. horizontal straight line under perfect competition.

Concept: Main Market Forms
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