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Perfectly Competitive Firms Are Price Takers Because _____

Question 18

Multiple Choice

Perfectly competitive firms are price takers because _____


A) each firm is too small compared to the market to be able to affect price.
B) one firm determines the market price and all other firms accept this price.
C) firms charge the price that government determines.
D) firms must accept any price that consumers offer them.
E) firms earn high profits by charging different prices to different groups of consumers.

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