Indicate Whether Each Item Below Is a Characteristic of a Price-Taker

question 130

Short Answer

Indicate whether each item below is a characteristic of a price-taker or a price-setter. Use PT for price-taker and PS for price-setter.
a)Cost-plus pricing
b)Product lacks uniqueness
c)Less competition
d)Target pricing
e)Heavy competition

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Definitions:

Alcoholic Fermentation

A biological process in which sugars are converted into cellular energy, producing ethanol and carbon dioxide as by-products, primarily by yeasts.

Photosynthesis

Metabolic pathway by which most autotrophs use sunlight to make sugars from carbon dioxide and water.

Substrate-Level Phosphorylation

ATP formation by the transfer of a phosphate group from a phosphorylated molecule to ADP.