the demand schedule or curve confronted by the individual, purely competitive firm is
Type: A Topic: 2 E: 415 MI: 171 15. The demand schedule or curve confronted by the individual purely competitive firm is: A) relatively elastic, that is, the elasticity coefficient is greater than unity. B) perfectly elastic. C) relatively inelastic, that is, the elasticity coefficient is less than unity. D) perfectly inelastic. Answer: B