Multiple Choice
Suppose the equilibrium price in a competitive price-taker market is $10 and a firm in the industry charges $9. Which of the following is true?
A) The firm will not be able to sell any output.
B) The firm will sell less output than its competitors.
C) The firm will make more profit than it could at the $10 price.
D) The firm will make less profit than it could at the $10 price.
Correct Answer:
Verified
Correct Answer:
Verified
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