in which market type are firms considered price takers because they take the price in the market and have no…
in which market type are firms considered price takers because they take the price in the market and have no control over setting a price? a monopoly b oligopoly c perfect competition d monopolistic competition
Answer
Brief Explanations:
In a perfect - competition market, there are numerous buyers and sellers. Firms are so small relative to the market that they have no ability to influence the market price and must accept the price determined by the market forces of supply and demand.
Answer:
B. Perfect Competition