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1)What is a specific, real-life example of a seller in the world today that meets the definition of a price taker? Please specifically identify the

1)What is a specific, "real-life" example of a seller in the world today that meets the definition of a price taker? Please specifically identify the undifferentiated product (remember - no brand names here!) that is sold by the producer which you are describing.

2) Please lecture methe (four) characteristics of a price taker (versus a price searcher) in the Product Market Remember.

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