In a perfect competition, a firm maximizes profit in the short run by .10 deciding what price to change how much output to produce how much capital should be use * ....Perfectly competitive firms are price takers because 11 each firm is very large. many other firms produce identical products. there are no good can be substitute for their goods. their demand curve are downward sloping Suppose our firm decides to issue 20-year bonds with a par value of $1,000 and annual coupon payments. The return on other corporate bonds of similar risk is currently 12%, so we decide to offer a 12% coupon interest rate. - What would be a fair price for these bonds