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Retnec Retnec
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7 years ago
The purely competitive firm is a price taker because
A) it produces a very small fraction of total industry output.
B) its product is identical to that offered by other sellers in the industry.
C) there are no substantial barriers to entering the industry.
D) all firms in the industry sell identical products and each firm is too small to significantly alter total industry output.
E) each firm is large in relation to the total industry.
Textbook 
Introduction to Economic Reasoning

Introduction to Economic Reasoning


Edition: 8th
Author:
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hecosmetichecosmetic
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Retnec Author
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#2
7 years ago
You have the correct answer! Smiling Face with Halo
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