The individual firm's demand curve under conditions of perfect competition is
a. perfectly horizontal
b. perfectly vertical
c. upward sloping
d. downward sloping
e. nonexistent in perfect competition
A
Economics
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Average variable cost is equal to
A) average total cost minus average fixed cost. B) average total cost multiplied by output. C) total cost divided by output. D) the change in total cost divided by the change in output.
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Define the terms of trade
What will be an ideal response?
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