Refer to the information provided in Figure 13.1 below to answer the question that follows. Figure 13.1
-Refer to Figure 13.1. Of the following choices, Panel B best represents the demand curve for
A) an individual producer of soybeans.
B) a utility company.
C) insulin.
D) Samsung televisions.

Question

Refer to the information provided in Figure 13.1 below to answer the question that follows.  Figure 13.1
-Refer to Figure 13.1. Of the following choices, Panel B best represents the demand curve for
A) an individual producer of soybeans. 
B) a utility company. 
C) insulin. 
D) Samsung televisions.

Quizplus · Accepted Answer

An individual producer of soybeans faces a perfectly elastic demand curve, as soybeans are a commodity with many producers, making the demand curve horizontal.

Refer to the Information Provided in Figure 13