taker markets differ from price searcher markets because
in a price taker market:
a) Firms produce identical products.
b) Output from one firm has very little effect on
the market price.
c) Sellers face a perfectly elastic (horizontal) demand
d) All of these are characteristics of a price takers
e) None of these are characteristics of a price takers
The correct answer is d.
A price taker is a firm that can alter its rate of
production and sales without significantly affecting
the market price of the product because their output
is small compared to the overall market.
a Price Taker? -
learn more about a price taker.
Learn more about retaking the Series 63 exam and how the test is updated. Find out how these changes impact test takers and ...
Find out where to take the Series 63 examination for securities agents, and learn more details about the test's purpose and ...
Learn what parameters are required for a market to exhibit perfect competition and how perfect competition is more of a theory ...
Learn about monopolistic and perfectly competitive markets, what they are, and the main differences between perfect competition ...
Learn about how variations in price elasticity affect the supply and demand curves and what factors cause differences in ...
A. $1,304.35B. $1,200.00C. $1,196.35D. $1,296.00 Correct answer: A"B" is the bid price, not the offering price; "C" ...
A broker employee who delivers a market order to the broker's ...
A market structure in which the following five criteria are met: ...
A type of stock that companies issued to investors at a discount ...
A concept that describes the amount of demand for labor that ...
An economic term referring to the effect that a change in a firm's ...
Created by Morningstar, a fixed-income style box is designed ...