In a Perfectly Competitive Industry,the Price of Good a Is

question 7

Multiple Choice

In a perfectly competitive industry,the price of good A is $2.If a firm in this inudustry decides to increase its price to $2.50,it will:

• A)realize an increase in profits of $.50 per unit.
• B)be able to increase the quantity sold.
• C)be unable to sell any quantity of good A that is produced.
• D)lose some of its customers in the market.
• E)experience a decrease in profits of $.50 per unit.

---

Definitions:

Column

A vertical division in a table or spreadsheet that categorizes information under a specific heading for organization and reference.

Cell

The basic unit of a spreadsheet or table, defined by the intersection of a row and a column, used to enter and store data.

Duplicate

A copy of an item or data that is exactly like the original, often created unintentionally or for backup and comparison purposes.

Insert Columns

The process of adding new columns to a table, spreadsheet, or document to organize data more effectively.