Which of the following statements is TRUE about the relationship between a firm's demand curve under perfect competition and monopoly?
A) Under perfect competition, the demand curve is perfectly elastic; under monopoly, the demand curve has elastic, unit-elastic and inelastic portions.
B) Under monopoly, the demand curve is perfectly elastic; under perfect competition, the demand curve has elastic, unit-elastic and inelastic portions.
C) The demand curves for a monopoly and perfect competition are always inelastic.
D) We can define a demand curve under perfect competition but not under monopoly.
A
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Most consumers in stores use marginal analysis to make their buying decisions
a. True b. False Indicate whether the statement is true or false
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a. corrective tax. b. command and control policy. c. positive externality. d. negative externality.
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