If the Equilibrium Price in a Perfectly Competitive Market for Walnuts

question 39

Multiple Choice

If the equilibrium price in a perfectly competitive market for walnuts is $4.99 per pound,then an individual firm in this market can

• A)Not sell additional walnuts unless the firm lowers its price.
• B)Not sell additional walnuts at any price because the market is at equilibrium.
• C)Sell an additional pound of walnuts at $4.99.
• D)Sell more only by increasing its advertising budget.