Explain why the demand curve facing a perfectly competitive firm is assumed to be perfectly elastic (i.e.,

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Explain why the demand curve facing a perfectly competitive firm is assumed to be perfectly elastic (i.e., horizontal at the going market price).

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Managerial Economics

ISBN: 978-0133020267

7th edition

Authors: Paul Keat, Philip K Young, Steve Erfle

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Question Posted: Jun 20, 2016 12:33 AM

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Explain why the demand curve facing a perfectly competitive firm is assumed to be perfectly elastic (i.e.,

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Managerial Economics

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