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.
Here’s rule one when it comes to waves..the waves move, the particles don’t. It shall move p<span>erpendicular to the medium.</span>
Answer:
B: 5
Explanation:
As you can see, after 12, it decreases by 4, then 2. It gives me an idea that the number you decrease from the other number is divided by 2. Since the difference of 6 and 1 is 5, then that is probably your answer!
Just wanted to say this made me LMNO
Answer:
Kenya best displays this. farmers are paid very little and the government receives a lot. the government trades the coffee with foreign governments for other goods and support such as military and currency. even the prisoners work a lot hours to produce coffee for no gain of their own.
Explanation:
