If a firm in a perfectly competitive market tries to raise its price above the going market price, then:
举一反三
- When an individual firm in a competitive market increases its production, it is likely that the market price will fall.
- A firm in a perfectly competitive market will tend to expand its output as long as: A: its marginal revenue is positive. B: the market price is greater than the marginal cost. C: its marginal revenue is greater than the market price.
- Refer to Figure 9.6. At a market price of $15, this perfectly competitive profit maximizing firm should:
- A perfectly competitive firm is producing 75 units of output. The market price is $7 and the firm's marginal cost is $8. The firm should:
- Assume a market is perfectly competitive. When a new producer enters the market, the A: price in the market increases. B: price in the market decreases. C: price in the market does not change. D: market is no longer a competitive market.