isabelcasillas
isabelcasillas
05.05.2020 • 
Business

Firms in the market will be price-takers when the following conditions are met:1. All firms in the market produce an identical product.2. A large number of firms (buyers and sellers) exist in the market, so that no single firm dominates the market.3. Each firm supplies only a very small portion of total output supplied to the market.4. No barriers limit entry into or exit from the market, and firms and resources are fully mobile.

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