Firms operating in a perfectly competitive market are price takers because
A) they have a lot of market power.
B) in the market there are many firms, it's easy to enter, and the firms produce identical product.
C) they choose to set a price that differs from the market price but do not lose profit.
D) they choose to set a price that differs from the market price in order to gain market share.
E) in a perfectly competitive market, price is dictated through various government agencies.
Correct Answer:
Verified
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A) firms never cooperate.
B) one firm
A) buys
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