Suppose That Dave's Camera Shop Operates in a Competitive Market

question 158

Multiple Choice

Suppose that Dave's Camera Shop operates in a competitive market for cameras, which of the following statements is (are) true?
(i) he can maximise profit by raising his prices
(ii) he can maximise profit by altering the quantity of cameras that he supplies
(iii) he will be able to earn a profit only if he differentiates his cameras from the rest of the market

• A)(i) only
• B)(ii) only
• C)(i) and (ii)
• D)(iii) only

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