A purely competitive seller is
A)both a "price maker" and a "price taker."
B)neither a "price maker" nor a "price taker."
C)a "price taker."
D)a "price maker."

Name: A purely competitive seller is A)both a "price maker" and a "price taker." B)neither a "price maker" nor a "price taker." C)a "price taker." D)a "price maker."
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Question

Quizplus · Accepted Answer

In a purely competitive market, sellers have no control over the price of their product; they must accept the market price, making them "price takers."

A Purely Competitive Seller Is