Firms Are "Price Makers" If They

question 40

Multiple Choice

Firms are "price makers" if they

• A)have sufficient market power to set their product price.
• B)make the market price their product price.
• C)make their product price competitive.
• D)None of the above

---

Definitions:

Numeric

Relating to, consisting of, or denoting numbers, often used to describe data types that can be quantified and manipulated mathematically.

Non-Numeric

Qualitative data or information that cannot be quantified or expressed as numbers.

Always

A term indicating a constant or unchanging condition.

Data Mining

The process of using procedures from statistics and computer science to extract useful information from extremely large databases.