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Snowcat [4.5K]
3 years ago
12

All firms in an industry are price takers: Select one:

Business
1 answer:
AfilCa [17]3 years ago
3 0

Answer: Option B

                                     

Explanation: In simple words, perfect competition refers to a market structure in which there are large numbers of buyers and sellers each operating at a minor level in the market. Due to high number of participants and low level of operations no firm can individually affect the price.

In such a structure the prices are determined by the market forces of demand and supply.

Hence the correct option is B .

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