Which of the following is compatible with a firm in a purely competitive market?
Question
Which of the following is compatible with a firm in a purely competitive market?Options
A)
demand is inelastic
B)
demand is infinitely inelastic
C)
Marginal Cost is falling
D)
Price is greater than Marginal Cost
Related Lesson: How Perfectly Competitive Firms Make Output Decisions | Perfect Competition
The correct answer is B.
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