With respect to price,in a perfectly competitive market,firms can

Name: With respect to price,in a perfectly competitive market,firms can
Brand: Quizplus
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Question

Quizplus · Accepted Answer

In a perfectly competitive market, firms are price takers and do not have the ability to influence or set the market price. The price is determined by the intersection of the market supply and demand curves, and individual firms must accept this price in order to sell their goods or services. Therefore, the only viable choice is C, where firms take the market price.

With Respect to Price,in a Perfectly Competitive Market,firms Can