Author Question: The market demand curve in a perfectly competitive industry is horizontal, while the demand curve ... (Read 151 times)

nevelica · **on:** Jun 30, 2018

The market demand curve in a perfectly competitive industry is horizontal, while the demand curve faced by an individual perfectly competitive firm is downward sloping.
a. True
b. False
Indicate whether the statement is true or false

Question 2

The supply curve of land, in the market for uses of land, is:
a. perfectly inelastic.
b. nonexistent.
c. perfectly elastic.
d. positively sloped.
e. negatively sloped.