If the demand curve facing a firm is sharply do... - JAMB Economics 2003 Question
If the demand curve facing a firm is sharply downward-sloping, the firm is likely to be
A
a monopolistic competitor as it can have a limited influence on price
B
a monopolist as it can have a great influence on price
C
a perfect competitor as it cannot influence the market price
D
an oligopolist as it can collude with other firms to have some influence on price
correct option: b
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