after you set a price for your product, you discover that your competitors are selling the same thing at a significantly lower price. one reasonable option you have is to

a. raise your profit margin.
b. use the cost plus model.
c. find a way to lower your costs.
d. lower your price, but add a service charge.

Trade will take place: a. if the maximum that a consumer is willing and able to pay is less than the minimum price the producer is willing and able to accept for a good. b. if the maximum that a consumer is willing and able to pay is greater than the minimum price the producer is willing and able to accept for a good. c. only if the maximum that a consumer is willing and able to pay is equal to the minimum price the producer is willing and able to accept for a good. d. none of the above.