A Price-Taker Firm Can Sell

question 26

Multiple Choice

A price-taker firm can sell

• A) any quantity of product it wants at any price.
• B) less of its product at a higher price than at a lower price.
• C) any quantity of product it wants at the market equilibrium price.
• D) more of its product at a higher price than at a lower price.
• E) none of the above

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Definitions:

Assignment

The act of passing on rights, property, or duties from one individual or group to another.

Creditor Beneficiary

A third party who benefits from a contract made between two other parties because one of the primary parties owes a debt to the beneficiary.

Contract

A legally enforceable agreement between two or more parties that creates mutual obligations.

Promisor

The person or party who makes a promise or agrees to perform an action or fulfill an obligation under a contract.