Ask Question
BusinessBusiness
20 July, 11:23

Both buyers and sellers are price takers in a perfectly competitive market because

+1
Answers (1)
  1. 20 July, 11:30
    0
    The price is determined by government intervention and dictated to buyers anti sellers each buyer and teller knows it it illegal to conspire to affect price.

    Explanation:

    A perfectly competitive firm is a price taker, which implies that it must acknowledge the equilibrium price at which it sells products. In the event that a perfectly competitive firm attempts to charge even a modest sum more than the market price, it will be not able make any sales.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Both buyers and sellers are price takers in a perfectly competitive market because ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
What two factors inhibit the ability of rivals to imitate a firm's most valuable resources and capabilities?
Answers (1)
7. Assume that you manage a $10.00 million mutual fund that has a beta of 1.05 and a 9.50% required return. The risk-free rate is 4.20%. You now receive another $8.50 million, which you invest in stocks with an average beta of 0.65.
Answers (1)
Revise the following by incorporating bulleted items with category headings. Our attorney made a recommendation that we consider several things to avoid litigation in regard to sexual harassment.
Answers (1)
Under what circumstances would a defendant be wise to settle out of court?
Answers (2)
EB5. LO 5.3Using the weighted-average method, compute the equivalent units of production if the beginning inventory consisted of 20,000 units, 55,000 units were started in production, and 57,000 units were completed and transferred to finished goods
Answers (1)
New Questions in Business
If a company's current assets increase, what might we assume about their inventory levels? a) It increasedb) It decreasedc) It stayed the samed) We don't have enough information to decide
Answers (1)
What is the effect of import restrictions on prices? a. they cause prices to drop. b. they cause prices to rise. c. they often cause prices to rise steeply and then drop. d. they usually do not have any lasting effect on price?
Answers (1)
Joan is a manufacturing engineer who works on a new product development team along with members from design, engineering, production, purchasing, finance, marketing, and quality assurance.
Answers (2)
Which are costs subtracted from in calculating profit? revenue wages overhead debt
Answers (1)
What type of mortgage has set payments for the life of the loan? A: Varying-rate mortgage B: Fixed-rate mortgage C: Adjustable-rate mortgage D: Index-rate mortgage
Answers (1)
Home » Business » Both buyers and sellers are price takers in a perfectly competitive market because
Sign Up Forgot Password?