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If the demand curve that the firm faces is perfectly elastic, we can reasonably believe that: The firm has no control over the price of
If the demand curve that the firm faces is perfectly elastic, we can reasonably believe that: The firm has no control over the price of the product it sells but can vary the output. The firm can influence the price of the product it sells. The firm's contributions to total output of the product is insignificant. The firm must lower prices if it hopes to increase its profits. 
If the demand curve that the firm faces is perfectly elastic, we can reasonably believe that:
The firm has no control over the price of the product it sells but can vary the output.
The firm can influence the price of the product it sells.
The firm's contributions to total output of the product is insignificant.
The firm must lower prices if it hopes to increase its profits.
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Analysis Of Economic Data
Authors: Gary Koop
3rd Edition
0470713895, 9780470713891
