A firm in a price-taker market
A) must take the price that is determined in the market.
B) must reduce its price if it wants to sell a larger quantity.
C) must be large relative to the total market.
D) can exert a major influence on the market price.
Correct Answer:
Verified
Q251: Which of the following is always true
Q252: Firms that are price takers
A) are small
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Q261: Competitive price-taker markets are characterized by
A) low
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