Which of the following is not a characteristic of price takers?
A) Customers see little difference in the product/service being offered with other firms.
B) Customers see real or perceived differentiated quality/innovation in the product or service.
C) Product/service costs must be carefully controlled by the provider since the price cannot be adjusted easily.
D) Much competition exists in the market for comparable products/services with each firm working toward being a market leader.

Question

Quizplus · Accepted Answer

Price takers operate in a market where products or services are largely undifferentiated, meaning customers do not perceive significant differences in quality or innovation.

Which of the Following Is Not a Characteristic of Price