Because a competitive firm is a price taker, it faces a demand ...

[Cooldude101]

Because a competitive firm is a price taker, it faces a demand curve that is:
 a. perfectly inelastic.
  b. relatively inelastic.
  c. relatively elastic.
  d. perfectly elastic.

Question 2

The sign of the price elasticity coefficient for a normal good will:
 a. always be negative.
  b. always be positive.
  c. be positive if demand is elastic but negative if demand is inelastic.
  d. be positive if demand is inelastic but negative if demand is elastic.

[dpost18]

Answer to Question 1

d

Answer to Question 2

b

[Cooldude101]

Excellent

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Thanks for the timely response, appreciate it