Q279
Which of the following is not a characteristic of a 'price taker'?
A.
TR = P x Q
B.
AR = Price
C.
Negatively sloped demand
AnswerD.
Marginal Revenue = Price
Answer: Option C
Solution
Answer: Option C
Solution:
Negatively sloped demand is not a characteristic of a 'price taker'. A price taker lacks enough market power. The objective of market to influence the prices of goods or services.