In a competitive market where the elasticity of the market demand curve is -0.5, there are 100 identical firms, and the elasticity of the supply curve to the other 99 firms is 4. What is the elasticity of the demand curve of the 100th firm?

A) -446
B) -489
C) -50
D) -0.5

A

Economics

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Using the above figure, the price facing the perfectly competitive firm in the long run will be

A) P1. B) P2. C) P3. D) P4.

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