What is the characteristic of a perfectly competitive firm that causes it to be a price taker?
A) many buyers and sellers
B) homogeneous product
C) free entry and exit
D) Both A and B are correct.
Correct Answer:
Verified
Q7: Which of the following is NOT a
Q8: Which of the following is the best
Q9: A firm that can sell as much
Q10: Which of the following statements about a
Q11: In a market for a homogeneous good,
Q13: A price taker is a buyer or
Q14: A perfectly competitive market
A) is dominated by
Q15: In which of the following market structures
Q16: Which of the following is NOT a
Q17: Which of the following is a characteristic
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