Perfectly competitive firms are price takers. (A) What would happen if a perfectly competitive firm charged a price above the equilibrium price? (B) Why won’t a perfectly competitive charge a price lower than the equilibrium price?
Perfectly competitive firms are price takers. (A) What would happen if a perfectly competitive firm charged a price above the equilibrium price? (B) Why won’t a perfectly competitive charge a price lower than the equilibrium price?
Chapter9: Perfect Competition
Section9.1: The Theory Of Perfect Competition
Problem 3ST
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