If a perfectly competitive business firm is a price taker, then: A. pressure from competing firms will force acceptance of the prevailing market price.
<h3>What is a perfectly competitive market?</h3>
A perfectly competitive market can be defined as a type of market that is typically characterized by many buyers and sellers of homogeneous products, and there is free entry and exit in the market.
<h3>What is a
price taker?</h3>
A price taker can be defined as a business firm that is operating in a perfectly competitive market and is generally required to take the prevailing market price for its homogeneous product.
In this context, we can infer and logically deduce that pressure from other competing business firms would force acceptance of the prevailing market price when a perfectly competitive business firm is a price taker.
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Complete Question:
If a perfectly competitive firm is a price taker, then
A. pressure from competing firms will force acceptance of the prevailing market price.
B. it must be a relatively small player compared to its competitors in the overall market.
C. it can increase or decrease its output without affecting overall quantity supplied in the market.
D. quality differences will be very perceptible and will play a major role in purchasers' decisions.
No product results in -1, hence δlmn is NOT a right triangle showing that lydia's assertion is incorrect
<h3>Perpendicular lines</h3>
In order to determine whether triangle lmn is right-angled, we need to determine the slope of lm, ln, and mn first as shown:
For the slope of lm:
For the slope of ln:
For the slope of mn:
- If any of the two lines is perpendicular, hence the triangle lmn is right-angled.
- To check, we will take the product of the slopes and see if it is equivalent to -1.
Product of slope lm and ln
Since no product results in -1, hence δlmn is NOT a right triangle showing that Lydia's assertion is incorrect
Learn more on slopes here: brainly.com/question/3493733
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