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Question
Refer to the above figure. The figure represents the market demand and supply curves for widgets. What statement can be made about the demand curve for an individual firm in this market?
A) An individual firmʹs demand curve will be a smaller version of the market demand curve.
B) An individual firmʹs demand curve will be horizontal at $5.
C) An individual firmʹs demand curve will be horizontal at a price below $5.
D) An individual firmʹs demand curve cannot be determined from the graph above.
Answer
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Related questions
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