content area Part 1 A perfectly competitive firm wants higher profits and has decided to raise the price of its product. As an economic consultant you would advise them to Part 2 A. do this since higher price increases total revenue, other things remaining equal. B. do this, but also to lower ATC to make larger profits. C. not do this since they would lose all of their sales to competitors. D. do not do this since competitors will match the increase in price and the firm will be no better off