Question 5 Not yet answered Marked out of 1.00 Flag question A price-taking firm . Select one: O a. Talks to rival firms to determine the best price for all of them to charge b. Asks the government to set the price of its product. Sets the product's price to whatever level the owner decides upon O d. Cannot influence the price of the product it sells Price, MR, AR, Costs in Dollars $7.00 $6.00 400 In this figure, this firm is making: Select one: a. Normal profit O b. Economic loss O c. Positive economic profit O d. We can not tell from the figure. Question 7 MC ATC AVC D (AR) MR Quantity Produced