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Basic Question 2 of 10
Price takers ______
B. cannot influence market price.
C. are able to sell a greater quantity if and only if they lower the price.
A. alter market output to change price and maximize their profits.
B. cannot influence market price.
C. are able to sell a greater quantity if and only if they lower the price.
User Contributed Comments 2
| User | Comment |
|---|---|
| Nyoiks | they have a perfectly elastic demand curve |
| Dabuya | The price is determined by the aggregated demand and supply of all market participants. |
I am happy to say that I passed! Your study notes certainly helped prepare me for what was the most difficult exam I had ever taken.
Andrea Schildbach
Learning Outcome Statements
describe characteristics of perfect competition, monopolistic competition, oligopoly, and pure monopoly
CFA® 2024 Level I Curriculum, Volume 1, Module 1.