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rodikova [14]
3 years ago
8

Price taking behavior for a firm means that:

Business
1 answer:
erma4kov [3.2K]3 years ago
5 0

Answer:

d. the firm has no individual effect on the market price.            

Explanation:

Price taker -

It refers to the company or an individual who need to get the prevailing price of the market and have lesser market share , is referred to as price taker .

The price taker does not have the capability to alter the market price , because it does not have enough power to do the same .

A price taker can be any one in the economy , and can freely take entry and exit .  

Hence, from the given information of the question,  

The correct option is d.

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Most resources are nonrenewable, and wants and needs are limited. This is an example of?
dimulka [17.4K]

Answer:

scarcity.

Explanation:

Scarcity can be defined as an economical problem that gives the relationship between non-renewable (limited) resources and the limitless wants and needs of consumers.

Basically, it's very important that producers of goods and services make decisions that would help them on how to efficiently allocate scarce or limited resources, in order to meet the unending requirements, wants and needs of consumers.

In Economics, an example of scarcity is that most of the resources used for the manufacturing of finished goods and services are nonrenewable, and as a result, the wants and needs of the end users or consumers are limited. Thus, economists would advise that economies should decide on what to produce, how to produce, when to produce and for whom to produce due to the finite and limited nature of resources i.e the concept of scarcity.

3 0
2 years ago
Luciana is the first to offer a new product to customers in the local market and expects no competitors to emerge for at least t
storchak [24]

Answer:

skimming.

Explanation:

In this context, it can be said that Luciana will use the skimming pricing strategy.

This strategy consists of setting a relatively high price for the new product or service that will be offered in the market and then gradually lowering its price.

This strategy works by charging a high initial price that will be accepted by the first customers and after the first demand is satisfied, the price will be reduced to attract the most price sensitive customers.

8 0
3 years ago
What does it mean to use critical-thinking skills?
son4ous [18]

Answer:

Critical thinking is the ability to think clearly and rationally about what to do or what to believe. It includes the ability to engage in reflective and independent thinking. Someone with critical thinking skills is able to do the following : understand the logical connections between ideas.

6 0
3 years ago
How do you put an inequality into interval and set notation?
Marta_Voda [28]
It does take a little bit of work.  If you want 0<x<2, then in interval notation it is x\in(0,2).  [] means that the numbers you write there are included.  You can also have sets if you use union, for instance 0<x<2 and 4<x<5 would be written as x\in(0,2)\union(4,5).  Please mark Brainliest!!!
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3 years ago
An industry has many competitors, none of whom has significant control over price. In addition, it is easy to enter the industry
Romashka [77]
This is an example of how to work properly
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2 years ago
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