Merrimack Industries sells its output in a perfectly competitive market. Which of the following statements is true about Merrimack?

a. Merrimack faces a downward sloping demand curve.b. Merrimack will earn zero economic profits in long-run equilibrium.c. Merrimack would increase its total economic profits by charging a price slightly lower than the market price.d. The marginal revenue Merrimack receives from selling an additional unit of output will be different from the price at which it sells that unit.