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Answer:
Following? I think we need a picture?
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.
C-- Change "is; actually..." to ...is. Actually, I can't believe its still getting bigger.
The capture theory of regulation holds that there are certain regulations which are enforced by the regulator agencies and individuals.
<h3>What is the theory of regulation?</h3>
The theory of regulatory was attached to some individual such as Nobel laureat and George Stigler the theory explains the phenomenon of a regulation is managed by designated individual who ensures that people comply to regulations.
We have private and public regulations and agency vested with the task to oversee a specific industries are exposed to risk.
Therefore,
The capture theory of regulation holds that there are certain regulations which are enforced by the regulator agencies and individuals.
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