Which of the following business decisions will be made by firms that are price searchers but not those that are price takers?
A) What combination of resources should be used to produce a product that is supplied?
B) What output should be produced?
C) What price should be charged?
D) What legal structure of business organization (for example, a proprietorship or corporation) should be used?

Question

Quizplus · Accepted Answer

Price searchers have some control over the price they charge due to differentiated products, so they decide on the price. Price takers, in contrast, accept the market price.

Which of the Following Business Decisions Will Be Made by Firms