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Suppose that the paper clip industry is perfectly competitive. Also assume that the mark

Suppose that the paper clip industry is perfectly competitive. Also assume that the mark

 Suppose that the paper clip industry is perfectly competitive.  Also assume that the market price for paper clips is 2 cents per paper clip.  The demand curve faced by each firm in the industry is:

a. A horizontal line at 2 cents per paper clip.

b. A vertical line at 2 cents per paper clip.

c. The same as the market demand curve for paper clips.

d. Always higher than the firm’s MC curve.

 

Abhinav 05-Dec-2019

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