What is a price taker? When are firms likely to be price takers?
Question:
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 90% (11 reviews)
A price taker is a buyer or seller who is unable to affect the market price Firm...View the full answer
Answered By
Gabriela Rosalía Castro
I have worked with very different types of students, from little kids to bussines men and women. I have thaught at universities, schools, but mostly in private sessions for specialized purpuses. Sometimes I tutored kids that needed help with their classes at school, some others were high school or college students that needed to prepare for an exam to study abroud. Currently I'm teaching bussiness English for people in bussiness positions that want to improve their skills, and preparing and ex-student to pass a standarized test to study in the UK.
5.00+
1+ Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Micro Economics questions
-
When are firms likely to enter an industry? When are they likely to exit an industry?
-
The pizza market is perfectly competitive, and all pizza producers have the same costs as Pats Pizza Kitchen in Problem 4. In problem 4 Pats Pizza Kitchen is a price taker. Its costs are a. At what...
-
Use the following information to construct a swap of asset cash flows for the bank in problem 15. The bank is a price taker in both the fixed-rate market at 9 percent and the rate-sensitive market at...
-
Compute the length of the curve traced by r(t) over the given interval. r(t)= (t cos t, t sint, 3t), 0t 2
-
(Comprehensive Problem: Issuance, Classification, Reporting) Presented below are four independent situations. (a) On March 1, 2011, Wilke Co. issued at 103 plus accrued interest $4,000,000, 9% bonds....
-
Solve the equation 4x + 33x + 8 = 0 by factoring. The solutions are X1 = and x2 = with x1 x2.
-
Why is edge detection used as an early stage of computer vision? Can you think of any situations in which edge detection methods would fail?
-
The Mata Batting Company manufactures wood baseball bats. Matas two primary products are a youth bat, designed for children and young teens, and an adult bat, designed for high school and college-...
-
You are required to pick a current ("hot", widely discussed) economic event that relates to the material (topic) we have covered or will cover in this course. This paper has to show your ability to...
-
Maria Dees is the new controller for Harmony Tennis, a designer and manufacturer of tennis attire. Shortly before the December 31 fiscal year-end, Harmony Sapp (the company president) asks Dees how...
-
What are the three conditions for a market to be perfectly competitive?
-
Draw a graph showing the market demand and supply curves for corn and the demand curve for the corn produced by one corn farmer. Be sure to indicate the market price and the price the corn farmer...
-
The data file warner contains daily returns to holding shares in Time Warner Inc. The sample period is from January 3, 2008 to December 31, 2008 (260 observations), and a graph of the returns appears...
-
What is Abnormal Psychology? How did Sigmund Freud impact Abnormal Psychology?
-
What is the definition of abnormal psychology ? What diagnoses come to mind when defining abnormal psychology?
-
For sgupta20: 700 words, Original Work, References Included, Plagerism free. In text citation included. Write a paper in which you examine the field of abnormal psychology. Address the following...
-
What are the four cultural structures in health care organizations? How does each impact organizational behavior? How do they apply to your organization? How effectively does your organization...
-
Transactions for common stock and trading investmentsZeus Investments Inc. is a regional freight company that began operations on January 1 , 2 0 Y 8 . The following transactions relate to trading...
-
Suppose that U(c, c) = ln c + ln c, where > 0, and assume that the consumer lends at the real interest rate r 1 and borrows at the interest rate r 2 , where r 1 < r 2 . Under what conditions is the...
-
Determine the center and radius of each circle. Sketch each circle. 4x 2 + 4y 2 9 = 16y
-
The following data summarize the trade between Canada and the United States in 2015 and 2016. In both years, the value of Canadas exports to the United States exceeded the value of U.S. exports to...
-
An article in the Wall Street Journal discussing the effect of Chinese imports on the U.S. economy made the following observation: [Chinas] emergence as a trade powerhouse rattled the American...
-
An article in the Economist discussing the effects of Chinese imports on U.S. jobs referred to the China-shock literature and included a graph showing for the period from 1990 to 2016 the decrease in...
-
You have received an inquiry from a prospective client, Lazy Sofa, Inc., concerning the accounting for investments. Betty Jason, owner of Lazy Sofa, is considering investing some of her companys idle...
-
Firm A invents a new product and obtains a patent for it. It calls the product "Asky". Because of the patent, only Firm A can produce and sell Asky. Firm A plans to sell 1,000 units of Asky at the...
-
You are the Senior Manager of IAuditYou LLP, you were recently assigned to take over a very important client for the company, The engagement partner, Max Roff, has been the audit partner for the past...
Study smarter with the SolutionInn App