Question

Under which market form, a firm is a price taker?

विकल्प

• Perfect competition

• Monopoly

• Oligopoly

• Monopolistic competition

Answer 1

Perfect competition

Explanation:

A situation in which there are a high number of customers and sellers is known as perfect competition. Each vendor has a very modest percentage of the total. And because each seB.er "ln the market has a smaller share. The equilibrium price and quantity in the industry are determined by market forces of demand and supply, and that price is taken by each firm in perfect competition. As a result, the corporation is a price taker.