The demand curve faced by firms in a perfectly competitive market is horizontal to reflect the fact that _____.(1 point)

Question

The demand curve faced by firms in a perfectly competitive market is horizontal to reflect the fact that _____.(1 point)

Responses

individual firms are unable to influence the market price
individual firms are unable to influence the market price

individual firms offer a homogeneous product
individual firms offer a homogeneous product

individual firms are capable of influencing the market price
individual firms are capable of influencing the market price

individual firms offer a differentiated product
individual firms offer a differentiated product

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1 answer
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Answer 1

Bot GPT 4-o mini answered
1 month ago

The demand curve faced by firms in a perfectly competitive market is horizontal to reflect the fact that individual firms are unable to influence the market price.

The demand curve faced by firms in a perfectly competitive market is horizontal to reflect the fact that _____.(1 point)

The demand curve faced by firms in a perfectly competitive market is horizontal to reflect the fact that **individual firms are unable to influence the market price**.

The demand curve faced by firms in a perfectly competitive market is horizontal to reflect the fact that individual firms are unable to influence the market price.