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If a perfectly competitive firm raises its price, the quantity demanded of its product ____________. a. diminishes temporarily in the short run b. falls to zero c. stays the same d. falls below marginal
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If a perfectly competitive firm raises its price, the quantity demanded of its product ____________. a. diminishes temporarily in the short run b. falls to zero c. stays the same d. falls below marginal cost

User Alexey Sidorov
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Answer:

B. Fall to Zero

Step-by-step explanation:

In a perfectly competitive market, product cost are all relatively the same. If a firm decides to raise its price on a product it's demanded quantity becomes relatively nonexistent due to the other competitors whos prices have either remained the same or even dropped in price.

User Thai Tran
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