Which of the Following Is a Characteristic of a Firm

Multiple Choice

Which of the following is a characteristic of a firm in a perfectly competitive market?

A) The firm cannot make a profit in the short run because it is too small a part of the total market.
B) The firm can make a profit in the long run but not in the short run.
C) The firm can sell as much as it wants without having to lower its price.
D) The firm must lower its price in order to increase quantity demanded.