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.
The author prefers quiet to write in order to generate ideas and thoughts. It is believed that people gets the best ideas when they are more conscious about their inner thoughts which they only get when they are alone or in a quite place.
<h3>Who is author?</h3>
Author is a person who creates intellectual or creative work, particularly a book, article, poetry, drama, or other literary work that is intended for publication.
The title of author is sometimes given to someone who compiles material in such a way that the final product can be considered a relatively original work.
Thus, The author prefers quiet to write in order to generate ideas and thoughts.
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Answer:
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Explanation:
