Price is constant to the individual firm selling in a purely competitive market because
A)the firm's demand curve is downsloping.
B)of product differentiation reinforced by extensive advertising.
C)each seller supplies a negligible fraction of total supply.
D)marginal costs are constant.

Question

Quizplus · Accepted Answer

In a purely competitive market, each firm is a price taker because it supplies a negligible fraction of the total market supply, meaning its actions alone do not affect the market price.

Price Is Constant to the Individual Firm Selling in a Purely