Who Are the Price Takers in a Perfectly Competitive Market

question 152

Multiple Choice

Who are the price takers in a perfectly competitive market?

• A) both the buyers and the sellers
• B) the buyers
• C) neither the buyers nor the sellers
• D) the sellers

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Definitions:

Camouflage

The adaptation of an organism's appearance, by color, pattern, or shape, to blend in with its environment to hide from predators or to ambush prey.

Batesian Mimicry

A form of mimicry where a harmless species evolves to imitate the warning signals of a harmful species to deter predators.

Poison Arrow Frog

A group of brightly colored frogs, native to tropical Central and South America, known for the potent toxin secreted through their skin.

Chemical Defenses

Strategies involving the production of chemical substances by organisms to deter predation, infection, or competition.