Are perfectly competitive firms price makers or price takers? How is the profit-maximizing price and quantity decided

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Are perfectly competitive firms “price makers” or “price takers”? How is the profit-maximizing price and quantity decided upon by the perfectly competitive firm?

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Air Transport Economics

ISBN: 9781032482538

4th Edition

Authors: Bijan Vasigh, Brian Pearce

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Question Posted: Feb 02, 2024 02:05 AM

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Are perfectly competitive firms price makers or price takers? How is the profit-maximizing price and quantity decided

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Perfectly competitive firms can be considered price takers not price makers This means that they take the market price as given and do not have the po...View the full answer

Air Transport Economics

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