In perfect competition, all buyers and sellers are price takers.
Answer the following statement true (T) or false (F)
True
In perfect competition, all buyers and sellers are price takers who make buying and selling decisions based on the market price, which they take as given.
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The DD schedule shows all combinations of which 2 variables so that the output market is in equilibrium?
A) imports and exports B) exports and the exchange rate C) foreign prices and the exchange rate D) output and the exchange rate E) output and exports
Credit cards do not fulfill the three functions of money
Indicate whether the statement is true or false
(Appendix) If you have an offer of $10/hour and the relevant range of offers is $5/hour to $15/hour with the offers proportionately distributed across the range, what is your expected gain from engaging in a search for another offer?
A. Zero B. $5.00 C. $2.50 D. $1.25
When a Pigouvian tax is imposed, ________
A) the marginal private cost curve shifts upward B) the demand curve shifts rightward C) the marginal social cost curve shifts downward D) the marginal social benefit curve shifts downward