A firm that is a price taker will not sell any of its product for less than the equilibrium price because
A) it is against the law to do this.
B) it can sell all it can produce at the equilibrium price.
C) this would invite competition from outside the market and end up reducing the profits of the firm.
D) this would be breaking the cartel agreement that price-taker firms often enter into.
E) none of the above
Correct Answer:
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Q134: Which of the following is inconsistent with
Q135: Exhibit 22-9 Q136: The profit-maximization rule is as follows: Q137: A perfectly-competitive firm produces 2,000 units of Unlock this Answer For Free Now! View this answer and more for free by performing one of the following actions Scan the QR code to install the App and get 2 free unlocks Unlock quizzes for free by uploading documents
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A)Produce the