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362

Q:

In which market structure the market demand curve is represented by the demand curve of the firm?

  • 1
    Monopoly
  • 2
    Oligarchy
  • 3
    Dual rights
  • 4
    Perfect competition
  • Show Answer
  • Workspace

Answer : 1. "Monopoly"
Explanation :

Since all firms in perfect competition sell identical products and face the same market price, the market demand curve is determined by horizontally summing the individual firm's demand curves. Therefore, the market demand curve coincides with the demand curve of a single firm in perfect competition.

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