When it is said that a perfectly competitive firm is a price taker, this means?

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11-10-2017
Business

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When it is said that a perfectly competitive firm is a price taker, this means?

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jn33 jn33 · Answer 1 · 2017-10-11T08:21:39+02:00

jn33 jn33

11-10-2017

this means the firm must accept the prevailing prices in the market of its products, so that its own transactions being unable to affect the market price .

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