Multiple Choice
If every firm in a market is a price taker,then which of the following is true?
A) There are numerous sellers in the market.
B) There are no substitutes of the products sold in the market.
C) There is limited resource mobility.
D) There are few consumers for the product being sold in the market.
E) A few firms in the market have market power.
Correct Answer:
Verified
Correct Answer:
Verified
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