An Imperfectly Competitive Producer

Multiple Choice

An imperfectly competitive producer:

A) has no say in the price of its product and is, essentially, a price taker.
B) faces a horizontal demand curve.
C) supplies its products up to the quantity where the marginal revenue from selling one more product is equal to the marginal cost of producing that last unit.
D) sets the price where the marginal revenue equals the average cost.