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Nat2105 [25]
4 years ago
14

A firm characterized as a price-taker:

Business
1 answer:
ololo11 [35]4 years ago
3 0

Answer: Option E

Explanation: A perfectly competitive company is known as a price-taker, because the competition of competing firms causes them to embrace the prevailing market price of equilibrium.

If a company raises the price of its product by as much as a penny in a perfectly competitive structure,then it will lose all of its sales to other firms. In such structures the prices are determined by the marker forces of demand and supply.

Hence from the above we can conclude that the correct option is E.

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Remember, we are told Tania gave half of the beeds she bought to Sally; implying 16 x 2 = 32 beads in total, which means Tania's leftovers should be 16 beads.

Second, note we are told the Ratio of number of beads to stickers Tania had left was 1:3;

implying that for every 1 beads left with Tania she also had 3 more stickers.

Since we know Sally received 16 beads from Tania we find the Ratio by multiplying 3/1x 16 = 48 stickers was left with Tania.

Adding the amount left with the amount given we arrive at 77 total stickers bought (48 +29).

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