The demand curves facing a seller under conditions of pertect competition, monopolistic compettion and monopoly difer in their price elasticities of demand. Draw demand curves of all the three market situations in a single diagram.

The demand curves facing a seller under conditions of pertect competit

1.	The demand curves facing a seller under conditions of pertect competition, monopolistic compettion and monopoly difer in their price elasticities of demand. Draw demand curves of all the three market situations in a single diagram.
Answer» <html><body><p></p>Solution :Perfect competition has a perfscty <a href="https://interviewquestions.tuteehub.com/tag/elastic-967540" style="font-weight:bold;" target="_blank" title="Click to know more about ELASTIC">ELASTIC</a> <a href="https://interviewquestions.tuteehub.com/tag/demand-436956" style="font-weight:bold;" target="_blank" title="Click to know more about DEMAND">DEMAND</a> <a href="https://interviewquestions.tuteehub.com/tag/curve-941741" style="font-weight:bold;" target="_blank" title="Click to know more about CURVE">CURVE</a> (DD) parallel to the X-axis Monopolistic competition has a <a href="https://interviewquestions.tuteehub.com/tag/highly-2102664" style="font-weight:bold;" target="_blank" title="Click to know more about HIGHLY">HIGHLY</a> elastic demand curve `(D_(1),D_(1)). Manopoly has a <a href="https://interviewquestions.tuteehub.com/tag/less-1071906" style="font-weight:bold;" target="_blank" title="Click to know more about LESS">LESS</a> elastic demand curve `(D_(2)D_(2))`</body></html>