The demand curve facing a perfectly competitive firm is:
a. perfectly inelastic.
b. perfectly elastic

If the price elasticity of supply for a good is 10, then supply is

A) elastic. B) inelastic. C) unit elastic. D) perfectly elastic. E) perfectly inelastic.

How do the following affect the equilibrium price in a market?

a. A leftward shift in demand b. A rightward shift in supply c. A large rightward shift in demand and a small rightward shift in supply d. A large leftward shift in supply and a small leftward shift in demand