If the demand curve facing a firm is sharply downward-sloping, the firm is likely to be
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- A A monopolistic competitor as it can have a limited influence on price
- B A monopolist as it can have a great influence on price
- C A perfect competitor as it cannot influence the market price
- D An oligopolist as it can collude with other firms to have some influence on price
Correct Answer: Option B
Explanation:
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