Economy, asked by Anonymous, 3 months ago

do you think demand curve for the product of a firm is more elastic than the demand curve for the commodity facing the industry

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Answered by rapunzel4056

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Under every form of market organization except monopolistic competition, the firm faces a downward-sloping demand curve. ... The price elasticity of demand for a firm's output is generally more elastic than the price elasticity of demand for the industry's output of the commodity.

Answered by jinaladiwala82

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