Refer to Figure 2-4. A movement from ________ could occur because of an influx of immigrant labor

What happens to total revenue given a price increase and demand is inelastic? Why?

Which of the following is correct?

A. Both purely competitive and monopolistic firms are "price takers." B. Both purely competitive and monopolistic firms are "price makers." C. A purely competitive firm is a "price taker," while a monopolist is a "price maker." D. A purely competitive firm is a "price maker," while a monopolist is a "price taker."