Question

what type of market are firm price taker? *what type of market are firm price taker? *​

Answer 1

Perfect competition is a form of the market in which there is a large number of buyers and sellers and where homogeneous product is sold at a uniform priceA price taker firm means that it has to accept the price as determined by the forces of market demand and market supply.

Answer 2

Answer:

Perfect Competition

Explanation:

Firms are price takers in perfect competition as all the products are homogeneous. In other words, There are many firms producing same products. So if they set higher price, they would lose their market share to other firms.

Therefore, they have to accept the equilibrium price determined by market forces.