A bakery is one of many that operate in the bread industry. The market demand curve for bread is downward-sloping. The bakery incurs fixed costs and has an upward-sloping marginal cost curve. Which of the following statements is correct?
a. The bakery can raise the market price by constraining its production.
b. The bakery always makes a positive economic rent.
c. The bakery's supply curve is horizontal.
d. The bakery faces a flat demand curve.
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