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Basic Question 3 of 10
A price taker faces a demand curve that ______
B. is perfectly elastic.
C. is perfectly inelastic.
A. has an elasticity of zero.
B. is perfectly elastic.
C. is perfectly inelastic.
User Contributed Comments 2
| User | Comment |
|---|---|
| Thescholar | The demand is perfectly elastic for the company but downward sloping for the market |
| dmfz | The market will get as much quantity as possible. |
I used your notes and passed ... highly recommended!
Lauren
Learning Outcome Statements
describe characteristics of perfect competition, monopolistic competition, oligopoly, and pure monopoly
CFA® 2024 Level I Curriculum, Volume 1, Module 1.