If Steves Apple Orchard, Inc. is a perfectly competitive firm, the demand for Steves apples has
A. zero elasticity.
B. unitary elasticity.
C. elasticity equal to the price of apples.
D. infinite elasticity.
Answer:D
If Steves Apple Orchard, Inc. is a perfectly competitive firm, the demand for Steves apples has
A. zero elasticity. B. unitary elasticity. C. elasticity equal to the price of apples. D. infinite elasticity.