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What is a Price Taker Firm? - CBSE (Arts) Class 12 - Economics

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Question

What is a price taker firm?

Solution

A firm which does not have any control over the prevailing market price is known as a price taker firm. In this situation, the price is determined by the market and the firm must accept the prevailing market price to sell the goods.

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Solution What is a Price Taker Firm? Concept: Features of Perfect Competition.
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