Perfectly competitive firms are price takers. True or False

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Why are individual firms in perfectly competitive industries price takers?

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Why firms are price takers in a perfectly competitive market?

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1. Markets and competition In a perfectly competitive market, all producers sell (perfectly identical/different) goods or services. Additionally, there are (few,many) buyers and sellers. Because of these two characteristics, both buyers and sellers in perfectly competitive markets are price (takers,makers)

True or False: The market for lettuce does not exhibit the two primary characteristics that define perfectly competitive markets.

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Perfectly competitive firms are price takers. True or False

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