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if consumers view the output of any firm in a market to be identical to the outp

ID: 1116356 • Letter: I

Question

if consumers view the output of any firm in a market to be identical to the output of any other firm in the market has many firms and transaction costs are low, the demand curve for the output of any given firm. Homework: Chapter 8 Homework core: 0 of 1 pt oncept Question 1.3 1 of 2010 complete) HW Score: 0%, 0 of 29 p Question Help If consumers view the output of any firm in a market to be identical to the output of any other firm in the market and the market has many firms and transaction costs are low, the demand curve for the output of any given firm 0 A. will be vertical. O B. will be identical to the market demand curve. O C. will be horizontal. O D. cannot be determined from the information given Click to select your answer and then click Check Answer Clear All All parts showing

Explanation / Answer

Answer

Option C

the firm will be in the market of perfect competition and the demand curve for these firms is horizontal because of identical product and low cost of transactions if someone increase price then the producer will lose all of its revenue.

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