A firm characterized as a price-taker:
a. has control over the price it pays, or receives, in the market.
b. is not a characteristic of a perfectly competitive market.
c. sets the price for the market.
d. takes the price that is determined from the lowest price consumers are willing to pay for an item.
e. has no control over the price it pays, or receives, in the market.
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “A firm characterized as a price-taker: a. has control over the price it pays, or receives, in the market. b. is not a characteristic of a ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers
You Might be Interested in
The benefits received from which of the following personal policies are received tax-free?
Answers (1)
Schister Systems uses the following data in its Cost-Volume-Profit analyses: Total Sales $395,000 Variable expenses 197,500 Contribution margin 197,500 Fixed expenses 119,000 Net operating income $78,500 What is the total contribution margin if
Answers (1)
If GDP calculations included measurements of pollution and environmental damage, GDP values would most likely be A. unchanged from their values without these measurements. B. greater than their values without these measurements. C.
Answers (1)
Denny Corporation is considering replacing a technologically obsolete machine with a new state-of-the-art numerically controlled machine. The new machine would cost $100,000 and would have a sixteen-year useful life.
Answers (1)
An increase in the money supply might indicate that the Fed had A. purchased bonds in an attempt to increase the federal funds rate. B. purchased bonds in an attempt to reduce the federal funds rate. C.
Answers (1)
New Questions in Business
The United States trade deficit first became a problem in the 1970s because? a. The prices of imports from Japan increased dramatically. b. The prices of imports from China increased dramatically. c. The price of foreign oil was raised by APEC. d.
Answers (1)
This document is published by the Office of Inspector General (OIG) every year. It details the OIG's focus for Medicare fraud and abuse for that year.
Answers (1)
Equity theory is the principle that when jobs are distinctly different but entail similar levels of ability, responsibility, skills, and working conditions, they are of equal value and should have the same pay scale. True False
Answers (1)
Which of the following situations will likely result in the highest price for a good? -high demand and high supply -low demand and high supply -low supply and low demand -low supply and high demand
Answers (1)
Which statement is not true? 26% of fortune 500 CEOs are women More than 50% of all professional level jobs are healed by women 8.1% of the top earners or women 4.6% of fortune 500 CEOs are women
Answers (1)