Under perfect competition, a firm is a price taker because:
a. setting a price higher than the going price results in profits.
b. each firm's product is perceived as different.
c. each firm has a significant market share.
d. setting a price higher than the going price results in zero sales.
d
Economics
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The price of jet fuel falls. This fall shifts the
A) demand curve for airplane trips rightward. B) demand curve for airplane trips leftward. C) supply curve of airplane trips rightward. D) supply curve of airplane trips leftward.
Economics
The United States is a major exporter of
a. diamonds b. bauxite c. coffee d. corn e. gold
Economics