Question 16 : What is meant by a " price taker " ? Question 16 options : a ) A monopsonist consumer can set the market price b ) No consumer or producer can determine the market price c ) Consumers have perfect information d ) Producers have more information than consumerse
Question 16 : What is meant by a " price taker " ? Question 16 options : a ) A monopsonist consumer can set the market price b ) No consumer or producer can determine the market price c ) Consumers have perfect information d ) Producers have more information than consumerse
Managerial Economics: A Problem Solving Approach
5th Edition
ISBN:9781337106665
Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Publisher:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Chapter9: Market Structure And Long-run Equilibrium
Section: Chapter Questions
Problem 4MC
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Question
Question 16 :
What is meant by a " price taker " ?
Question 16 options :
a ) A monopsonist consumer can set the market price
b ) No consumer or producer can determine the market price
c ) Consumers have perfect information
d ) Producers have more information than consumerse
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