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 Aws trusted advisor is the service that can be used to address this particular use case.
<h3>What is the AWS trusted advisor?</h3>
This is the recommendation that is given to the user that would enable the person to follow the practices that are the best.
It helps to provide all the ways that are necessary for optimizing infrastructure as well as security performances.
The advisor would have to use checks in order to carry out the following for the client:
- optimize your AWS infrastructure
- improve security
- improve performance
- help to reduce costs,
- help in the monitoring of service quotas.
- Help to control cost
- Provide better tolerance for faults
In conclusion the work of the AWS trust advisor is based on helping to get the practices that are best hence they help to offer guidance.
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