In the competitive price-taker model, individual firms exert no effect on the market price. Therefore, the firm's marginal revenue curve is

A) indeterminate.
B) an upward-sloping curve.
C) a downward-sloping curve.
D) the same as the firm's demand curve.

Competitive Price-Taker

A business that has no control over the market price and must accept the prevailing market price set by supply and demand forces.

Marginal Revenue Curve

A graphical representation showing how marginal revenue varies with changes in quantity sold.

Market Price

The present cost at which a good or service may be purchased or sold on the market.