Paper clip industry is perfectly competitive.

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Suppose that the paper clip industry is perfectly competitive. Also assume that the market price for paper clips is 2 cents per paper clip. The demand curve faced by each firm in the industry is: Always higher than the firm's MC curve. A horizontal line at 2 cents per paper clip. The same as the market demand curve for paper clips. A vertical line at 2 cents per paper clip.

Reference no: EM131002063

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