Discuss why demand curve faced by a perfect competitor

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Reference no: EM1371082

Q. 1a) Illustrate what are characteristics of a Perfectly Competitive Market?

1b) Illustrate what are Characteristics of a Monopoly?

1c) Discuss why demand curve faced by a Perfect Competitor is assumed to be perfectly elastic and that of a Monopolist less elastic.

Reference no: EM1371082

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