Firms that are price takers
A) are small relative to the total market.
B) produce products that are different than their competitors.
C) can sell only a portion of their output at the market price.
D) have downward-sloping demand curves.

Question

Quizplus · Accepted Answer

Price takers are typically small relative to the total market and produce homogeneous products, meaning they cannot influence the market price and must accept it as given.

Firms That Are Price Takers