I need answer typing clear urjent no chatgpt i will giveupvote In a perfect competitive industry, theprice elasticity of for the market demandis ------- and the price elasticity of thedemand for an individual firm'sdemand------. a) infinite, less than infiniteb) infinite, infinite c) less than infinite,infinite d) less than infinite, less thaninfiniteTraining

The answer is (b). Market demand is perfectly elastic in a perfectly competitive industry, which…

Answered: In a perfect competitive industry, the…

Principles Of Marketing

17th Edition

ISBN:9780134492513

Author:Kotler, Philip, Armstrong, Gary (gary M.)

Publisher:Kotler, Philip, Armstrong, Gary (gary M.)

Chapter1: Marketing: Creating Customer Value And Engagement

Section: Chapter Questions

Problem 1.1DQ

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