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प्रश्न
A firm under perfect competition is called a price taker because ______.
पर्याय
It can increase price to earn more profit
It can decrease price to sell more output
It accepts the market price decided by demand and supply
It fixes price in consultation with buyers
MCQ
रिकाम्या जागा भरा
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उत्तर
A firm under perfect competition is called a price taker because it accepts the market price decided by demand and supply.
Explanation:
Under perfect competition, the firm has to accept the market price determined by industry demand and supply, so it is a price taker with P = AR = MR constant.
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