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Answer : 3. "Firm"
Who is a price taker in perfect competition?
5Q:
Who is a price taker in perfect competition?
- 1Industryfalse
- 2Governmentfalse
- 3Firmtrue
- 4Buyerfalse
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Answer : 3. "Firm"
Explanation :
Perfect competition occurs when there are many sellers, there is easy entry and exiting of firms, products are identical from one seller to another, and sellers are price takers.