Which of the following must be true for a country to be a price taker in the global market for a particular good?
A) The quantity of the good produced and consumed must be very small relative to the total amount bought and sold worldwide.
B) The quantity of the good produced and consumed must be very large relative to the total amount bought and sold worldwide.
C) Many sellers must supply a very significant amount of the good to the market.
D) Many buyers must consume a large amount of the good from the market.
Correct Answer:
Verified
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