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Author Question: In perfect competition, each individual firm faces ________ demand curve. A) an inelastic B) an ... (Read 62 times)

Beheh

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on: Jun 29, 2018
In perfect competition, each individual firm faces ________ demand curve.
 
  A) an inelastic
  B) an upward sloping
  C) a perfectly elastic
  D) a downward sloping

Question 2

The above table gives the demand schedule for Billy Bob's BBQ ribs. The price elasticity of demand for Billy Bob's ribs over the price range of 3 to 1 is equal to
 
  A) 4.00.
  B) 2.00.
  C) 0.50.
  D) 0.25.


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fauacakatahaias

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Reply #1 on: Jun 29, 2018
Answer to Question 1

C

Answer to Question 2

D


Beheh

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Reply 2 on: Jun 29, 2018
Great answer, keep it coming :)

FergA

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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