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Referring to the Diagram, Which of the Following Statements Is

Question 66

Multiple Choice

Referring to the diagram, which of the following statements is INCORRECT? Referring to the diagram, which of the following statements is INCORRECT? A) The equilibrium market price is $5, at which the industry demand and supply curves intersect. B) If the individual firm raises its price, it will capture all sales in the market. C) The individual firm takes as given the market price along the perfectly elastic demand curve d. D) The individual firm faces the going market price as determined by the industry.


A) The equilibrium market price is $5, at which the industry demand and supply curves intersect.
B) If the individual firm raises its price, it will capture all sales in the market.
C) The individual firm takes as given the market price along the perfectly elastic demand curve "d."
D) The individual firm faces the going market price as determined by the industry.

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