WAEC Economics 2010 Theory — Question 7

Question 7 of 23 from the West African Examinations Council (WAEC) Economics 2010 Theory paper, with the correct answer and a full explanation.

2(c) Draw the demand curve for the farm. (6 marks)

Model answer

Since the price is constant at $21 per crate, the demand curve is a horizontal (perfectly elastic) line at price = $21, as is typical for a price-taking firm.

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