Perfect Competition
Completion requirements
Complement the text with the explanations in this video for a
comprehensive understanding of the distinction between the supply and
demand graph for a perfectly competitive market and a perfectly
competitive firm. What is the relationship between the firm that is a
price taker and the fact that its demand curve in a perfectly
competitive market is a horizontal line? What is the price elasticity of
demand of a fully horizontal demand curve?
Source: Khan Academy, https://www.youtube.com/watch?v=B_49lQxwMaM
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Last modified: Friday, 2 August 2024, 11:28 AM