The market demand curve in a perfectly competitive market is ________ and the demand curve for a perfectly competitive firm's output is ________
A) downward sloping; downward sloping
B) downward sloping; horizontal
C) horizontal; downward sloping
D) horizontal; horizontal
E) downward sloping; upward sloping
B
Economics
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When demand is relatively elastic, the deadweight loss of a tax is larger than when demand is relatively inelastic
a. True b. False Indicate whether the statement is true or false
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