If Every Firm in a Market Is a Price Taker,then

question 52

Multiple Choice

If every firm in a market is a price taker,then which of the following is true?

• A)There are numerous sellers in the market.
• B)There are no substitutes of the products sold in the market.
• C)There is limited resource mobility.
• D)There are few consumers for the product being sold in the market.
• E)A few firms in the market have market power.

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Definitions:

Unaware

Lacking knowledge, consciousness, or realization about a specific fact, situation, or phenomenon.

Treatment

The management and care of a patient or the combating of disease or disorder.

Relative Risk

A measure used in epidemiology to determine the likelihood of a health event occurring in one group compared to another.

Incidence

The rate or number of new cases of a particular condition detected in a specific population within a given time period.