A firm is a price taker if
A) seeks to maximize revenue rather than profit.
B) cannot influence the market price.
C) searches for the best price and then takes the highest profits possible.
D) buys inputs for firms.
Correct Answer:
Verified
Q9: Perfect competition is characterized by
A) many buyers
Q10: In a perfectly competitive industry
A) each firm
Q11: In a perfectly competitive market, which of
Q12: The perfectly competitive firm cannot influence the
Q13: When considering perfect competition the absence of
Q15: Under perfect competition, a firm that sets
Q16: Which of the following is a characteristic
Q17: A firm in a perfectly competitive industry
Q18: Each firm in a perfectly competitive industry
Q19: All firms in a perfect competition industry
A)
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