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प्रश्न
When is a firm called ‘price-taker’?
उत्तर
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.
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Price Ceiling
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संबंधित प्रश्न
What is maximum price ceiling? Explain its implications.
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What is meant by price ceiling? Explain its implications.
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Answer the following question.
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Explain Price Ceiling with the help of a diagram:
