The term price taker is associated with:
A) monopoly.
B) pure competition.
C) monopsony.
D) monopolistic competition.

Name: The term price taker is associated with: A) monopoly. B) pure competition. C) monopsony. D) monopolistic competition.
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Question

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In a pure competition market structure, firms are considered price takers because there are many sellers offering identical products, and no single seller has the power to influence market prices. They must accept the market price as given.

The Term Price Taker Is Associated With