If a company has limited competition and sells unique products,it is considered a price taker.

Name: If a company has limited competition and sells unique products,it is considered a price taker.
Brand: Quizplus
Rating: 4.8 (47 reviews)

Question

Quizplus · Accepted Answer

A price taker is a company that has to accept the prevailing market price for their products. If a company has limited competition and sells unique products, they may have the ability to set their own prices and are considered price makers.

If a Company Has Limited Competition and Sells Unique Products,it