A price taker is:
A) a firm that accepts different prices from different customers.
B) a consumer who accepts different prices from different firms.
C) a perfectly competitive firm.
D) a firm that cannot influence the market price.
E) both C and D

Question

Quizplus · Accepted Answer

A price taker is a perfectly competitive firm that cannot influence the market price, meaning it must accept the market price as given. This is characteristic of both perfectly competitive firms and firms that cannot influence market prices, making both C and D correct.

A Price Taker Is