For purely competitive industry, a fundamental requirement of the demand curve faced by individual firms…

Economics JAMB 1989

For purely competitive industry, a fundamental requirement of the demand curve faced by individual firms is that it should be?

  • downward sloping and price inelastic
  • perfectly price elastic checkmark
  • downward sloping but price inelastic
  • perfectly price inelastic

The correct answer is: B

Explanation

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