The seller of a product is a price taker in which of the following environment?
A)Monopolistic competition
B)Pure Competition
C)Monopoly
D)Oligopoly

Question

Quizplus · Accepted Answer

In a pure competition environment, there are many sellers offering a homogeneous product, and no single seller has the power to influence the market price. Sellers accept the market price as given, making them price takers.

The Seller of a Product Is a Price Taker in Which