Kizspy | Question: 47
(Choose 1 answer)
Which of the following statements best describe a price-taking firm?
A. If the firm raise its prices over the market rate, it would fail to sell any of its products
B. In order to increase revenue, the firm is incentivized to lower prices than the market rate
C. Only a certain quantity of the product can be sold by the firm at the market price before the market price will fall
D. Price-taking firms maximize profits by charging a price above MC
