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A few sellers may behave as if they operate in a perfectly competitive market if the...

Question

A few sellers may behave as if they operate in a perfectly competitive market if the...



A few sellers may behave as if they operate in a perfectly competitive market if the market demand is: Select one: a. highly
A few sellers may behave as if they operate in a perfectly competitive market if the market demand is: Select one: a. highly inelastic b. very elastic. c. unitary elastic d. composed of many small buyers.

Answers

Answer

Option b

very elastic

the demand is very elastic so the firms operate like in perfectly competitive to not reduce the demand for the firm and sell at almost the market price and do not change it.


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