Perfectly Competitive Firms Are Price Takers Because

question 45

Multiple Choice

Perfectly competitive firms are price takers because

• A)each firm is too small compared to the market to be able to affect price
• B)one firm determines price and all other firms accept this price
• C)firms take the price that government determines
• D)firms must accept any price consumers offer them
• E)firms earn high profits by "taking" consumers

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Definitions:

Estimated Dose

A calculated approximation of the amount of a substance or medication to be administered.

G

In a medical context, often an abbreviation for "gram," a unit of weight in the metric system.

IV

Intravenous, a method of delivering medication or fluids directly into a vein.

Ml

Abbreviation for milliliter, a unit of volume in the metric system commonly used in medicine and science.