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Which of the following statements are true of pure competition? Choose one or more:A.Firms act as price takers.B.There must be a very large number of
Which of the following statements are true of pure competition? Choose one or more:A.Firms act as price takers.B.There must be a very large number of sellers.C.The demand curve facing a competitive firm consists of a horizontal line at any price equal to or below the market price.D.The demand curve facing a competitive firm consists of a horizontal line at any price equal to or above the market price.E.The market demand curve and the demand curve facing a firm may be one and the same, at least at certain prices.
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