If the Equilibrium Price in a Perfectly Competitive Market for Walnuts

question 39

Multiple Choice

If the equilibrium price in a perfectly competitive market for walnuts is $4.99 per pound,then an individual firm in this market can

• A)Not sell additional walnuts unless the firm lowers its price.
• B)Not sell additional walnuts at any price because the market is at equilibrium.
• C)Sell an additional pound of walnuts at $4.99.
• D)Sell more only by increasing its advertising budget.

---

Definitions:

Accessible

Easily approachable, reachable, or usable by people with varying levels of ability.

Overview

A general summary or survey of a subject, issue, area of knowledge, or the main features of something.

Longer Report

A comprehensive and detailed document that provides an in-depth analysis or evaluation on a specific subject.

Entire Report

A comprehensive document that provides detailed information on a specific topic, including analysis, findings, and conclusions.