Question 0

A perfectly competitive firm does not influence the demand for its commodities by lowering its price below the market price because?

  • A.it is illegal price cutting
  • B.other competitors will be angry
  • C.total revenue will decline due to its elastic demand curve
  • D.it is able to sell all it wants at the market price
  • E.it does not maximize profit
Objective

Question details

Exam body
JAMB
Subject
Economics
Year
1984
Question no.
#0
Type
Objective

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