Use the following to answer question(s): Exhibit: The Market for Carrots -(Exhibit: The Market for Carrots) If this is a perfectly competitive market, when the demand is D₁ and the supply is S, any firm could enter and sell carrots for:

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In a perfectly competitive market, firms are price takers, meaning they must accept the market price. The intersection of demand D₁ and supply S determines the market price. Without a graph, assuming D₁ represents the demand curve and S the supply curve, the specific intersection point (market equilibrium) cannot be determined. However, given the options, 20 cents a pound is the only price listed that could represent a potential equilibrium price where firms would sell their product, assuming it's the lowest price option provided and considering the nature of the question.

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