In a perfectly competitive industry, the industry demand curve is ...

[charchew]

In a perfectly competitive industry, the industry demand curve is ____, while in a monopolistic industry, the industry demand curve is:
 a. horizontal; downward sloping.
 b. downward sloping; horizontal.
 c. downward sloping; downward sloping.
  d. horizontal; horizontal.

Question 2

A monopoly exists when there is only one producer in an industry, and no close substitutes for the product exist.
 a. True
  b. False
  Indicate whether the statement is true or false

[ergserg]

Answer to Question 1

c

Answer to Question 2

True

[charchew]

TYSM

[xiaomengxian]

Thanks for the timely response, appreciate it