Business, 13.11.2019 05:31 ashcookie27

Which of the following statements best reflects a price-taking firm? a) if the firm were to charge more than the going price, it would sell none of its goods. b) the firm has an incentive to charge less than the market price to earn higher revenue. c) the firm can sell only a limited amount of output at the market price before the market price will fall. d) price-taking firms maximize profits by charging a price above marginal cost.

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Which of the following statements best reflects a price-taking firm? a) if the firm were to charge...

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