The term, "price taker" means that

Name: The term, "price taker" means that
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A firm that is a price taker is one that must accept the price determined by the market because it does not have enough market power to influence or set prices on its own. This is often the case in perfectly competitive markets, where there are many buyers and sellers and no one firm has market power to control prices. Thus, the firm must take the prevailing market price in order to sell its goods or services.

The Term, "Price Taker" Means That