No Control Over Price

In a perfectly competitive market, price is determined by...?
Supply and Demand
Supply
Demand
Firms
Someone/thing that cannot affect the market price of their product is known as a...?
Price Maker
Price Taker
Corporation
Limited Partner
A price ceiling determines the ____ a price can go?
Lowest
Balanced
Highest
True perfect competition is ------ seen.
Rarely
Always
Never
Almost never, but sometimes always
Anyone can find the lowest price about anything.
True
False
Fierce competition still exists in ------ factors of the economy.
Some
Many
All
No
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