Answer:
C. If the firm were to charge more than the going price, it would sell none of its goods.
Explanation:
A price-taker firm is defined as an individual company which must accept the prevailing prices in the market, lacking a market share to influence the market price on its own.
If a company is considered as a price taker in the competitive market, it does not have the power to influence the present market price by the quantity of the products it produces.
Thus if a price taking firm can charge more for a product than the going market price, then it would not sell its products.
Hence the correct option is (C).
I think it is C, but I am not sure if it is correct. If the answer is wrong, then I apologize.
Letters of peter, 2 New Testament writings attributed to the foremost of Jesus 12 apostles
The 10th amendment of the Constitution states as following; "The powers not delegated to the United States by the Constitution, nor prohibited to it by the States, are reserved to the States respectively, or to the people"
