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Mashcka [7]
3 years ago
13

Which of the following is correct? Both purely competitive and monopolistic firms are "price takers." Both purely competitive an

d monopolistic firms are "price makers." A purely competitive firm is a "price taker," while a monopolist is a "price maker." A purely competitive firm is a "price maker," while a monopolist is a "price taker."
Business
1 answer:
alina1380 [7]3 years ago
4 0

Answer:

"A purely competitive firm is a "price taker," while a monopolist is a "price maker".

Explanation:

<u>Price takers</u> are those organizations that do not have the ability to impact the market to generate fluctuations. This is the case of a <em>purely competitive firm </em>that markets its products at a price that helps maximize profit.

<u>Price makers</u> are those that make the market go, that is, they have significant lots larger than the queue at each price level. This is the case of <em>monopolistic firms</em>, capable of influencing the price of the product.

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