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Basic Question 2 of 10

Price takers ______

A. alter market output to change price and maximize their profits.
B. cannot influence market price.
C. are able to sell a greater quantity if and only if they lower the price.
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User Contributed Comments 2

User Comment
Nyoiks they have a perfectly elastic demand curve
Dabuya The price is determined by the aggregated demand and supply of all market participants.
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Craig Baugh

Craig Baugh

Learning Outcome Statements

describe characteristics of perfect competition, monopolistic competition, oligopoly, and pure monopoly

CFA® 2024 Level I Curriculum, Volume 1, Module 1.