When consumers act as price-takers,we say that they behave
A) cooperatively.
B) competitively.
C) monopsonistically.
D) irrationally.

Question

Quizplus · Accepted Answer

When consumers act as price-takers, competing with each other in the market to buy products at the prevailing market price, they are behaving competitively. They have no influence or control over the price and must accept it to buy the product.

When Consumers Act as Price-Takers,we Say That They Behave