Question
Why is a perfectly competitive firm called a price taker? Select the correct answer below: because it is difficult for such a firm to enter
Why is a perfectly competitive firm called a "price taker"? Select the correct answer below:
because it is difficult for such a firm to enter the market
because its prices are not competitive
because the firm determines its price and sends that price to the market
because the market determines the price at which the firm must sell its product
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Managerial Economics and Business Strategy
Authors: Michael Baye, Jeff Prince
8th edition
9780077802615, 73523224, 77802616, 978-0073523224
