In imperfect competition _____.
A)a firm will produce as many units as it can sell
B)the price a firm charges will influence the quantity
C)a firm's cost exceeds a competitor's costs
D)a firm's market share is less than a competitor's market share

Question

Quizplus · Accepted Answer

In imperfect competition, the price a firm charges will influence the quantity because there are substitutes and different firms have some degree of market power. A firm may not be able to sell as many units as it can produce because it must consider the price and quantity strategies of its competitors. The other options do not accurately describe imperfect competition.

In Imperfect Competition _____