Which of the Following Statements Best Reflects a Price-Taking Firm

question 520

Multiple Choice

Which of the following statements best reflects a price-taking firm?

• A)The firm can sell only a limited amount of output at the market price before the market price will fall.
• B)If the firm were to charge less than the going price, it would maximize its profits and revenues.
• C)If the firm were to charge more than the going price, it would sell none of its goods.
• D)Both b and c are correct.

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Definitions:

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