Economy, asked by nehanaik9875, 1 year ago

Under perfect competition a firm is described as (a) A price maker & not price taker, (b) Price taker & not price maker (c) Neither price maker nor price taker (d) None of these

Answers

Answered by Udeesha

2

b) price taker and not maker...it is set by the industry

Udeesha: *it is set by market forces i.e. demand and suply

Answered by MManiAC

0

Answer: Firm is a price taker

Explanation: Because the Price is Fixed by the government.

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