If a Firm Has No Ability to Select the Price

question 77

Multiple Choice

If a firm has no ability to select the price of its product, it:

• A) will go out of business due to losses.
• B) is a price-maker.
• C) cannot maximize profit.
• D) has a horizontal individual demand curve.

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Definitions:

Responsibilities

Duties or tasks that an individual or entity is expected or required to perform or uphold.

Special Projects

Unique, temporary tasks or initiatives that require a dedicated team and resources to achieve specific goals.

Challenging Job Demands

Refers to work conditions that require high levels of effort and skill, which can be motivating but also stressful.

Workload

The amount of work that an individual or group is responsible for during a given time period.