Aperfectly competitive firm can

a) sell all of its output at the prevailing market price.
b) set a higher price to customers who are willing to pay more.
c) raise its price in order to increase its total revenue.
d) sell additional output only by lowering its price.
e) usually not sell all the output it produces, but still "over-produces" because there are some periods when it can sell the extra output at very profitable prices.

You wish to retire in 13 years, at which time you want to have accumulated enough money to receive an annual annuity of $23,000 for 18 years after retirement. during the period before retirement you can earn 9 percent annually, while after retirement you can earn 11 percent on your money. what annual contributions to the retirement fund will allow you to receive the $23,000 annuity? use appendix c and appendix d for an approximate answer, but calculate your final answer using the formula and financial calculator methods.