The Implication of a Firm Being a Price Taker Is

question 24

Multiple Choice

The implication of a firm being a price taker is that, if it increases its price then:

• A)buyers will purchase from other sellers instead
• B)buyers will pay the higher price in the short run
• C)other sellers in the market will increase prices as well
• D)the firm will need to advertise to sell its goods

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Definitions:

Couple Therapists

Professionals who specialize in helping partners in a relationship improve their communication, resolve conflicts, and strengthen their bonds.

Desensitization Techniques

Therapeutic interventions designed to reduce or eliminate emotional response to a stimulus by repeated exposure to it.

Electroconvulsive Therapy

A psychiatric treatment involving electrically induced seizures in anesthetized patients, mainly used for severe depression.

Biological Treatment

A treatment for medical conditions that is based on manipulating biological processes, often involving medication or procedures to treat diseases.