The fact that a perfectly competitive firm has a perfectly elastic demand curve means
A) there is no limit to the firm's profits.
B) there is no limit to the firm's revenues.
C) that it can sell all it wants at any price.
D) None of the above
Question 2
Which of the following will cause the average fixed cost curve of making cigarettes to shift?
A) a 5 million penalty charged to each cigarette maker
B) a 1 per pack tax on cigarettes
C) a 3 per hour wage increase
D) an increase in the demand for cigarettes
Drive - In fact it was you
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Lineweaver–Burk plots of the reactions with and without a competitive inhibitor
Elastic Rebound