24 In a perfectly competitive market, if a firm raises the price of its product from the prevailing market price of $179 to $199, it

Select one:

a.would likely result in a substantial loss of sales to competitors.

b.will likely cause the firm to reach its shutdown point immediately.

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

d.will cause the firm to recover some of its opportunity costs.