If a Firm Is a Price Taker, Then the Demand

question 158

Multiple Choice

If a firm is a price taker, then the demand curve for the firm's product is

• A)equal to the total revenue curve.
• B)perfectly inelastic.
• C)perfectly elastic.
• D)unit elastic.

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Definitions:

Lack of Pushiness

An approach in sales or negotiations where aggressiveness and hard-sell tactics are avoided, often leading to better customer relations.

Community Affairs

Activities and practices aimed at engaging with and addressing the needs and interests of the local community or public.

Conflicts of Interest

Arise when an individual's personal interests potentially interfere with or contradict the interests of the organization or group they represent.

Customer Satisfaction

The measure of how well a company's products, services, or experience meets or surpasses customer expectations.