Under perfect competition, a firm is a price taker because:
A) setting a price higher than the going price results in profits.
B) each firm's product is perceived as different.
C) each firm has a significant market share.
D) setting a price higher than the going price results in zero sales.
Correct Answer:
Verified
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Q37: Under perfect competition, which of the following
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Q39: Exhibit 8-1 Quantity and total revenue data
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Q41: Exhibit 8-3 Cost per unit curves
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