Unlike a consumer,a competitive profit-maximizing firm faces no constraints.

Name: Unlike a consumer,a competitive profit-maximizing firm faces no constraints.
Brand: Quizplus
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Question

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A competitive profit-maximizing firm faces constraints such as its production technology, the prices of inputs, and the market demand for its output. It must also compete with other firms in the industry, which can limit its ability to raise prices or increase profits.

Unlike a Consumer,a Competitive Profit-Maximizing Firm Faces No Constraints