3. Perfectly competitive firms are price-takers. That means the perfectly competitive firm

a. knows it has no influence over price even though it faces a downward-sloping demand curve.

b. views the market price as given and knows it cannot influence that price.

c. accepts the market price as its own even though it can choose a different one, because it maximizes profit at the market price.

d. cannot force other firms in the industry to sell at the price it chooses.

e. chooses a price that maximizes profit but forfeits normal profit.