Perfect competition is a market in which there are firms, each selling entry of new firms into the industry; no advantage to established firms; and buyers and sellers product; many buyers; about prices. OA. few; differentiated; no barriers; have no information B. many; identical; no barriers; are well informed C. few; differentiated; barriers; are well informed O D. many; identical; barriers; have no information Who of the following is a price taker? O A. Sandy has set the price of her own designer clothes. OB. Megan buys vegetables from the local grocery outlet. OC. Ralph, a fruit seller, sells apples at a market price of $3.50 a kilogram. O D. Sam works in an R&D company holding a patent on technology, which has raised the price of a device to $2,000. A firm's total revenue is the of its output multiplied by the O A. quantity; cost B. price; number of units of output sold OC. price; profit D. additional unit; cost Dave sells 4 jugs of milk at $5 per jug. If he increases his sales to 5 jugn of the to the