Spangles Are Sold in a Perfectly Competitive Market, and the Market

Spangles are sold in a perfectly competitive market, and the market price of a spangle is $10. A firm in this market can produce 100 spangles at a cost of $4 each. What does this firm's demand curve look like?

A) a horizontal line at $4
B) a vertical line at $14
C) a horizontal line at $6
D) a horizontal line at $10

Correct Answer:

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