Share
Notifications

View all notifications

When is a Firm Called ‘Price-taker’? - Economics

Login
Create free account


      Forgot password?
ConceptPrice Ceiling

Question

When is a firm called ‘price-taker’?

Solution

A firm is said to be a price taker when it has no control over the existing market price and accepts the price as determined by the invisible hands of market, i.e. by demand for and supply of the commodities.

  Is there an error in this question or solution?

APPEARS IN

Solution When is a Firm Called ‘Price-taker’? Concept: Price Ceiling.
S
View in app×