If a perfectly competitive firm is a price taker. then


iPad F 1:21 PM 72% assessments lumenlearning.com Micro Econ Practice Questions Flashc Open Assessments open Assessments Perfect Competition You are on question lof 14 Choose ALL that apply. If a perfectly competitive firm is a price taker then: O pressure from competing firms will force acceptance of the prevailing market price. O it can increase or decrease its output without affectng overal quantity supplied in the market O must be a relatively small player compared to its competitors in the overall market. quality diferences will be very perceptible and wil playamajor role in purchasers decisions

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