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In a perfectly competitive market the term "price taker" applies to

fattykay92

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In a perfectly competitive market the term "price taker" applies to

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.

Textbook

InMicro

Edition: 1^st

Authors: Hubbard, O'Brien

Read 101 times

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qwer34

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More solutions for this book are available here

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fattykay92 Author

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4 years ago

Thanks

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