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2 years ago

If a perfectly competitive firm is a price taker, then

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6 0

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.

Read more on price here: brainly.com/question/11898489

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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.

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The number of different combinations of these items that you can make if you choose four (4) toppings is equal to 1.

<h3>How to calculate the combinations of these items.</h3>

In order to determine the combinations of these items that this person can make, we would use this mathematical model known as combination.

Mathematically, combination is calculated by using this mathematical equation:

$_nC_r = \frac{n!}{r!(n-r)!}$

<u>Where:</u>

n is the total number of items.

r is the number of times of choosing items.

<u>Given the following data:</u>

Number of toppings = 4.

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⁴C₄ = 4/4

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