Multiple Choice
A purely competitive firm does not try to sell more of its product by lowering its price below the market price because
A) its competitors would not permit it.
B) it can sell all it wants to at the market price.
C) this would be considered unethical price chiseling.
D) its demand curve is inelastic, so total revenue will decline.
Correct Answer:
Verified
Correct Answer:
Verified
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