2. Imperfectly competitive firms have a demand curve that ________ and a marginal revenuecurve that ________ and is ________ the demand curve.A) is horizontal; is horizontal; the same asB) is horizontal; slopes downward; belowC) slopes downward; slopes downward; belowD) slopes downward; is horizontal; aboveE) slopes downward; slopes downward; the same as

The slope of a marginal revenue curve for a monopolist facing a linear demand curve The slope of a marginal revenue curve for a monopolist facing a linear demand curve 1. is undefined. 2. is twice the slope of the demand curve. 3. is equal to the slope of the demand curve. 4. is more elastic than the market demand curve.

Because competitive firms face a downward-sloping demand curve, their marginal revenue curve lies the demand curve. (Enter one word in each blank.)

For a pure monopoly, the slope of the marginal revenue curve and the demand curve are the same.Question 22Select one:TrueFalse

tatement 1:  In perfect competition, the industry demand curve is horizontal.Statement 2:  In perfect competition, the demand curve faced by individual firms is downward sloping.Which of these statements is correct?

The demand, the revenue, and the revenue curves for a perfectly competitive firm are the same horizontal line at the market price.