Multiple Choice
Which of the following statements is true?
A) Price-taking behavior by competitive firms does not have an analogy in the theory of the consumer.
B) The more competitive a market, the more prices are expected to vary between firms in the market.
C) Buyers and sellers individually set prices.
D) A competitive firm is a price-taker.
E) A competitive firm is a price-maker.
Correct Answer:
Verified
Correct Answer:
Verified
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