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QUESTION 10 The demand curve facing a firm in a perfectly competitive industry is... O Perfectly inelastic Inelastic Unit elastic Perfectly elastic ONone of the

QUESTION 10 The demand curve facing a firm in a perfectly competitive industry is... O Perfectly inelastic Inelastic Unit elastic Perfectly elastic ONone of the above QUESTION 11 In the recent past, recorded songs were sold online at locations like the iTunes Store. Suppose that Steve would demand 20 songs if the price were $1 per song and 10 songs if the price were $2 per song. What's the most Steve would be willing to pay for a lifetime subscription service for unlimited music? (Hint: First find the demand curve.) $0 $45 $60 $30 $15

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