A firm in pure competition will:
A) advertise its product to tell potential customers about its unique product.
B) be able to set its own price level.
C) have to accept the going price.
D) be able to increase its total revenue only by lowering its price.
E) All of these alternatives are correct.

Question

Quizplus · Accepted Answer

A firm in pure competition cannot sell its product above the market price and there is no point selling below the market price. So, a firm in pure competition will have to accept the market price.

A Firm in Pure Competition Will