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)
Responses
individual firms offer a differentiated product
individual firms offer a differentiated product
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 are unable to influence the market price
individual firms are unable to influence the market price
1 answer
1 answer