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Author Question: If a firm in a perfectly competitive industry lowers its price below the market price, its (Read 70 times)

jayhills49

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on: Apr 19, 2019

Question 1

An individual firm's demand curve in a perfectly competitive market is


◦ downward sloping.
◦ upward sloping.
◦ perfectly elastic.
◦ perfectly inelastic.

Question 2

If a firm in a perfectly competitive industry lowers its price below the market price, its


◦ total revenue will increase.
◦ profit will decrease.
◦ sales will drop to zero.
◦ demand curve will become downward sloping.
Principles of Economics ¦ Case, Fair, Oster ¦ 12th Edition
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Marked as best answer by jayhills49 on Apr 19, 2019

Hikerman221

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Reply #1 on: Apr 19, 2019
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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jayhills49

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Reply 2 on: Apr 19, 2019
Thanks for the timely response, appreciate it

Joy Chen

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Reply 3 on: Yesterday
Excellent

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