Scenario 9.2 Consider a Publicly Held Firm (One Whose Stock Shares Are

Scenario 9.2
Consider a publicly held firm (one whose stock shares are traded on the stock exchange) that earned revenue worth $350 million and incurred land, labor, and debt costs worth $320 million. The stockholders who have invested a total of $100 million in this firm could have earned 10 percent return on other comparable investments.
-Which of the following statements concerning perfect competition is not true?

A) Firms are price takers.
B) The demand curve facing an individual firm is horizontal.
C) A firm's demand curve is identical to its marginal revenue curve.
D) The firms produce differentiated products.
E) If a firm raises its price, it will lose all of its customers.