If a firm is a price taker, it does not have the ability to control the price

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“If a firm is a price taker, it does not have the ability to control the price of the product it sells.” What does this statement mean?

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Microeconomics

ISBN: 9781337617406

13th Edition

Authors: Roger A Arnold

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Question Posted: Apr 05, 2024 05:00 AM

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If a firm is a price taker, it does not have the ability to control the price

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It means that the firm cannot change the price of the product it sells b...View the full answer

Microeconomics

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