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Dr.Van Offer is contemplating submission of a research proposal to an organization that is completely unknown to him.The RFP from the organization is very vague about its funding policies,and Dr.Van Offer is unsure whether his research is appropriate to the organization's funding mission.What are his next steps? Should he just forget the submission?
Competitive Price-Taker
A competitive price-taker is a firm or individual that has no control over market prices and must accept the prevailing market price as is.
Market Price
The current price at which a good or service can be bought or sold in a marketplace, determined by supply and demand dynamics.
Revenues
The income generated from normal business operations, calculated as the selling price of goods or services times the quantity sold.
Competitive Price-Taker
A Competitive Price-Taker is an individual or company that has no control over the market prices and must accept the prevailing prices as given.
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