In a perfectly competitive market,producers:

Question

Quizplus · Accepted Answer

In a perfectly competitive market, producers are price takers and cannot influence the market price by changing their output. They have to accept the market price and can sell as much as they want at that price without affecting it. Option B is incorrect because producers cannot influence the price upward. Option C is also incorrect because in a perfectly competitive market, producers cannot undercut the competition's price as they have no control over the market price. Option D is not correct as A is the correct answer.

In a Perfectly Competitive Market,producers