Solved

If All Firms in an Industry Are Price Takers

Question 18

Multiple Choice

If all firms in an industry are price takers:


A) each firm can sell at the price it wants to charge,provided it is not too different from the prices other firms are charging.
B) each firm takes the market price as given for its output level,recognizing that the price will change if it alters its output significantly.
C) an individual firm cannot alter the market price even if it doubles its output.
D) the market sets the price,and each firm can take it or leave it by setting a different price.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Unlock this Answer For Free Now!

View this answer and more for free by performing one of the following actions

qr-code

Scan the QR code to install the App and get 2 free unlocks

upload documents

Unlock quizzes for free by uploading documents