Which of the Following Best Describes a Price Taker

question 78

Multiple Choice

Which of the following best describes a price taker?

• A) a firm taking the market price as given
• B) price strategies found in monopolistically competitive markets
• C) prices being set by long-term contracts
• D) firms taking the aggregate price level as given

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Definitions:

PhD

An abbreviation for Doctor of Philosophy, a doctoral degree awarded for advanced study and original research in a specified field.

WHO

The World Health Organization, an international body responsible for public health concerns.

Infirmary

A place in an institution like a school or prison where medical care is provided.

Psychoanalysis

A therapeutic technique and theory of psychology developed by Sigmund Freud, emphasizing unconscious motivations and conflicts as determinants of human behavior.