In its effort to maximize economic profit, a firm characterized as a p

In its effort to maximize economic profit, a firm characterized as a price setter must determine:

A) only the price it should charge.
B) only the quantity it should produce.
C) both the price it should charge and the quantity it should produce.
D) neither the price it should charge and the quantity it should produce as these are both determined by forces beyond the firm’s control.

ANSWER

C