MCQs > IT & Programming > Ecommerce > In a perfectly competitive market, the firm is a price taker because ______.

Ecommerce MCQs

In a perfectly competitive market, the firm is a price taker because ______.

Answer

Correct Answer: It produces only a tiny proportion of the total output of a particular good and buyers are well informed about the prices of other firms.

Explanation:

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Overall Skill Level-Poor

Your Skill Level: Poor

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