Question

A absolutely competitive industry has a

a.

perfectly elastic supply curve

b.

perfectly elastic demand curve

c.

negatively sloped demand curve

d.

positively sloped demand curve

Answer: (c).negatively sloped demand curve

Interact with the Community - Share Your Thoughts

Uncertain About the Answer? Seek Clarification Here.

Understand the Explanation? Include it Here.

Q. A absolutely competitive industry has a

Recommended Subjects

Are you eager to expand your knowledge beyond Marketing and Marketing Management? We've handpicked a range of related categories that you might find intriguing.

Click on the categories below to discover a wealth of MCQs and enrich your understanding of various subjects. Happy exploring!