A perfectly competitive firm is said to face a perfectly elastic demand curve Explain why the price elasticity is so high under perfect competition:
. A perfectly competitive firm is said to face a perfectly elastic
demand curve
Explain why the price elasticity is so high under perfect competition:
2.What is the consequences of a perfectly elastic demand curve on the marginal revenue received by the individual perfect competitor?
3.Based on your answers to b, state the profit optimizing rule (optimal Q) to as it applies to perfect competitors ONLY:
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