A Perfectly Competitive Firm Has to Charge the Same Price

question 273

Multiple Choice

A perfectly competitive firm has to charge the same price as every other firm in the market.Therefore, the firm

• A)faces a perfectly inelastic demand curve.
• B)is not able to make a profit in the short run.
• C)is a price taker.
• D)faces a perfectly elastic supply curve.

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Definitions:

Use of Plastic

The utilization of synthetic or semi-synthetic organic compounds that are malleable and can be molded into solid objects for various uses.

Islam

A monotheistic Abrahamic religion founded in the 7th century in Arabia by Prophet Muhammad, emphasizing belief in one God (Allah), and following the Quran as its holy scripture.

Polytheistic Religion

A religious belief in or worship of more than one god or deity.

Free Trade

Trade without government intervention or restrictions.