An Individual Firm in a Competitive Market

Multiple Choice

An individual firm in a competitive market

A) decides, given the market price, how much to produce and sell.
B) has no control over the price or the quantity it produces and sells.
C) takes the market-determined amount it should sell as given, and then, based on this amount, determines what price to charge.
D) decides what price to charge and how much to produce and sell.
E) has control over the price but not the quantity to produce and sell.