A firm that must sell its output at a market-determined price is called a
A) price-taker firm.
B) price-searcher firm.
C) price-setter firm.
D) price-maker firm.

Name: A firm that must sell its output at a market-determined price is called a A) price-taker firm. B) price-searcher firm. C) price-setter firm. D) price-maker firm.
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Question

Quizplus · Accepted Answer

A price-taker firm has no control over the market price and must accept the prevailing market price in order to sell its output.

A Firm That Must Sell Its Output at a Market-Determined