A price-taker is a seller that:
A)keeps taking an increasing share of market sales in its market.
B)sets its price based on the cost of inputs plus an allowance for profit.
C)takes all available information into consideration in deciding how much to charge above or below the current market price.
D)charges the current market price for its product.

Question

Quizplus · Accepted Answer

A price-taker is a seller that charges the current market price for its product. It does not have the ability to influence the market price and therefore has to accept the prevailing price.

A Price-Taker Is a Seller That