2. Why is a perfectly competitive firm a price taker? ...

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2. Why is a perfectly competitive firm a price taker?

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Microeconomics

ISBN: 9780324785494

9th Edition

Authors: Roger A. Arnold

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Question Posted: Nov 04, 2024 02:00 AM

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2. Why is a perfectly competitive firm a price taker?
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1. If a firm is a price taker, it does not have the ability to control the price of the product it sells. What does this statement mean?
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2. Why is a perfectly competitive firm a price taker? ...

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Microeconomics

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