Under perfect competition, a firm is a

price makerCorrect answerYour answermonopolistCorrect answerYour answerprice leaderCorrect answerYour answerprice takerCorrect answerYour answer

Show the answer and explanation

CorrectNot quiteAnswer D

Correct answer: D

Each firm is too small a part of the market to change the price; it takes the market price as given.

Ten questions from Perfect Competition & Supply, at your own pace.

Ten questions from Perfect Competition & Supply, at your own pace.

Explanation