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both buyers and sellers are price taker in a perfectly competitive market because a:the price is determined by government intervention and dictated...

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Nov 20, 2020 · Unfortunately, valuable information about a company, asset class or market has no value because it cannot be exploited, at least legally — as Martha Stewart learned, to her regret. And finally, perhaps the most amusing thing about the stock market is that for every buyer, there must be a seller, and both believe they are doing the right thing.

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Monopolies try to make the highest possible profit without losing their customers as a result of high price. This means that monopolies are price makers. A monopolistic firm can dictate how much they will charge for their product. This contrasts to a firm that is in competition with others. Firms in competition are price takers.

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This firm operates in a perfectly competitive market in which the market price is $10/unit. 24) _ 25) Suppose a perfectly competitive firm faces the following short-run cost and revenue conditions: ATC = $12.00; AVC = $8.00; MC = $12.00; MR = $10.00.Who are the price takers in a perfectly competitive market? Both the buyers and the sellers 28. Firms in a perfectly competitive market: sell homogenous products 29. In a market for a homogeneous good, if sellers and buyers can enter or exit a market freely , the market is most likely: a perfectly competitive market 30.

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Transcribed Image Text QUESTION 6 Both buyers and sellers are price takers in a perfectly competitive market because O the price is determined by government intervention and dictated to buyers and sellers. o each buyer and seller knows it is illegal to conspire to affect price.

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