Which of the following is true of firms that are price takers?
A)Must lower their prices to increase sales.
B)Are able to sell a fixed quantity of output at the market price.
C)Can raise their prices as a result of a successful advertising campaign.
D)Are able to sell all their output at the market price.

Question

Quizplus · Accepted Answer

Price takers are firms that cannot influence the market price and can sell all their output at the prevailing market price.

Which of the Following Is True of Firms That Are