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 can sell all their output at the market price because they operate in a perfectly competitive market where they have no control over the price.

Firms That Are Price Takers