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Title: In a perfectly competitive market the term "price taker" applies to Post by: fattykay92 on Oct 9, 2019 Question 1. The demand curve for each seller's product in perfect competition is horizontal at the market price because ▸ the price is set by the government. ▸ each seller is too small to affect market price. ▸ all the sellers get together and set the price. ▸ all the demanders get together and set the price. Question 2. In a perfectly competitive market the term "price taker" applies to ▸ only the smallest sellers and buyers. ▸ buyers but not sellers. ▸ sellers and buyers. ▸ sellers but not buyers. Title: In a perfectly competitive market the term "price taker" applies to Post by: qwer34 on Oct 9, 2019 Content hidden
Title: In a perfectly competitive market the term "price taker" applies to Post by: fattykay92 on Oct 9, 2019 Thanks
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