It is said that in a perfectly competitive market, raising the price of a firm’s product from the prevailing market price of $179.00 to $199.00

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It is said that in a perfectly competitive market, raising the price of a firm’s product from the prevailing market price of $179.00 to $199.00 ____________________.

A.      a. is a sure sign the firm is raising the given price in the market

 

B.      Could likely result in a notable loss of sales to competitors

 

C.      C. Will cause the firm to recover some of its opportunity costs

 

D.      D. Will likely cause the firm to reach its shutdown point immediately

 

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