Which of the Following Is a Primary Difference Between Price

question 218

Multiple Choice

Which of the following is a primary difference between price takers and price searchers that operate in markets with low barriers to entry?

• A) The price searchers will maximize profits in the short run, but price takers will not. Price takers can only maximize profits in the long run.
• B) The price searchers will have to search for the price, while price takers will have to take the price determined in the market.
• C) The price searchers will be able to earn profit in the long run, but the price takers will not.
• D) The price searchers may be able to earn profit in the short run, but the price takers will not be able to do so.

---

Definitions:

Inadequate Employee Skills

The gap between the skills employees have and the skills required for them to effectively perform their job roles.

SWOT Analysis

A strategic planning tool used to identify Strengths, Weaknesses, Opportunities, and Threats related to business competition or project planning.

Strengths

Positive attributes of a company or situation that are within its control, often identified in SWOT (Strengths, Weaknesses, Opportunities, Threats) analysis.

Weaknesses

Flaws or shortcomings within a business that may hinder its performance or ability to compete effectively.