Firms That Exhibit Price-Taking Behavior

question 58

Multiple Choice

Firms that exhibit price-taking behavior

• A) wait for other firms to set price, take it as given, and charge a higher price.
• B) have outputs that are too small to influence market price and thus take it as given.
• C) take pricing behavior in their own hands.
• D) are independently capable of setting price.

---

Definitions:

Objective Personality

Personality assessments that measure traits using standardized methods, minimizing subjective interpretation by relying on direct, quantifiable measures.

Taylor-Johnson Temperament Analysis

A psychological test that assesses personality traits and temperaments to evaluate personal relationships and potential conflicts.

Projective Personality

A type of personality assessment that relies on projecting one's own interpretations onto ambiguous stimuli to uncover underlying thoughts and feelings.

Objective Personality

Personality assessment tools or methods that rely on structured, standardized questions or prompts to evaluate personality traits with minimal subjective interpretation.