Companies Are Price-Takers When

question 81

Multiple Choice

Companies are price-takers when:

• A)it is operating in a highly competitive market.
• B)its product is unique.
• C)it has considerable flexibility in setting prices of its products.
• D)it has very high fixed costs.

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Definitions:

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A branch of psychology that focuses on how biological, psychological, and social factors affect health and illness.

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The actions or reactions of an organism, often in response to its environment.

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