Q77
A firm under perfect competition is
A.
Price maker
B.
Price breaker
C.
Price taker
AnswerD.
Price shaker
Answer: Option C
Solution
Answer: Option C
Solution:
A firm under perfect competition is Price taker. In perfect market conditions (also called perfect competition) a firm is a price taker because other firms can enter the market easily and produce a product that is indistinguishable from every other firm's product. This makes it impossible for any firm to set its own prices.