In a competitive market, if buyers did not know all the prices charged by the many firms,
A. all firms still face horizontal demand curves.
B. firms sell a differentiated product.
C. demand curves can be downward sloping for some or all firms.
D. the number of firms will most likely decrease.
Answer:C
In a competitive market, if buyers did not know all the prices charged by the many firms,
A. all firms still face horizontal demand curves. B. firms sell a differentiated product. C. demand curves can be downward sloping for some or all firms. D. the number of firms will most likely decrease.