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polet [3.4K]
2 years ago
11

If a perfectly competitive firm is a price taker, then

SAT
1 answer:
4vir4ik [10]2 years ago
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

#SPJ1

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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Which best describes the strength of the correlation, and what is true about the causation between the variables? it is a weak n
anzhelika [568]

The true statement about the causation between the variables  it is a weak negative correlation, and it is not likely causal.

<h3>What is causation between the variables?</h3>

The causation between the variables shows that the occurrence of one event causes the occurrence of the other.

The informal relationship between two events.

Thus, the correct option is A, it is a weak negative correlation, and it is not likely causal.

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6 0
2 years ago
What are the values of x in the inequality 4x – 3y &gt; 15 if y = -3?.
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2 years ago
luigi is willing to lend klaus $5,000 for one year at a nominal rate of interest of 7 percent. both luigi and klause expect the
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The real return is the difference between the nominal and actual rate of inflation. Therefore, the real return revived by Luigi will be 6%.

<u>Given</u><u> </u><u>the</u><u> </u><u>Parameters</u><u> </u><u>:</u>

  • <em>Nominal rate = 7% </em>

  • <em>Actual rate of inflation = 1%</em>

<em>Real return = Nominal rate - Actual rate of return </em>

Real Return = 7% - 1% = 6%

Therefore, the real return on Luigi's money would be 6%

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3 years ago
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