A perfectly competitive firm_______.A. Chooses its price to maximize profits.B. Sets its price to undercut other firms selling similar products.C. Takes its price as given by market conditions.D. Picks the price that yields the largest market share.

Respuesta :

Answer:

C. Takes its price as given by market conditions

Explanation:

A perfectly competitive firm is a firm operating in a market with a very large number of suppliers and their products are virtually the same.

Individual action has no effect on market equilibrium price and quantity, which are given by the point where aggregate supply curve intersect aggregate demand curve.

Therefore, they are price-takers.

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