why does a firm in a competitive industry charge


Why does a firm in a competitive industry charge the market price?

a. If a firm charges less than the market price, it loses potential revenue.
b. If a firm charges more than the market price, it loses all its customers to other firms.
c. The firm can sell as many units of output as it wants to at the market price.
d. All of the above are correct.

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Microeconomics: why does a firm in a competitive industry charge
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