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Perfect Competition

Price Taker: Meaning, Characteristics, and Examples

Updated on October 14, 2020 by Ahmad Nasrudin

Price Taker Meaning Characteristics and Examples

What's it: A price taker refers to a firm that cannot influence market prices and can only set an output price at the market price. All firms in

Topic: Market Structure, Perfect Competition, Price Taker Category: Microeconomics

Perfect Competition: Characteristics, and Implications

Updated on September 12, 2020 by Ahmad Nasrudin

Perfect Competition Characteristics and Implications

What's it: Perfect competition is a theoretical market structure concept with many companies producing identical goods or services. In other

Topic: Market Structure, Perfect Competition Category: Microeconomics

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