Table 14-1
-Refer to Table 14-1. The price and quantity relationship in the table is most likely a demand curve faced by a firm in a
A)monopoly.
B)concentrated market.
C)competitive market.
D)strategic market.

Question

Table 14-1 
-Refer to Table 14-1. The price and quantity relationship in the table is most likely a demand curve faced by a firm in a
A)monopoly. 
B)concentrated market. 
C)competitive market. 
D)strategic market.

Quizplus · Accepted Answer

The price and quantity relationship in the table shows a decreasing demand curve, which is typical of a competitive market where the firm has no market power and must lower prices to increase quantity demanded. Monopoly and concentrated market would have a more downward sloping demand curve, while a strategic market would involve more complex pricing strategies and potentially pricing power, which is not evident in this table.

Table 14-1 -Refer to Table 14-1. the Price and Quantity Relationship in Quantity