Business, 23.03.2020 19:57 depinedainstcom

Which statement is the best description of a price‑taker as it pertains to perfect competition?
a. Mary Beth grows cotton. She finds that she can always sell her entire crop at the market price. However, if she asks a price that is even slightly higher she cannot sell any of her cotton.
b. The city government has set a maximum price Alice can charge for her garage apartment, so she must take that price or not rent it out at all.
c. Bob is having trouble selling his old car. When Cindy offers him $1000 he takes it, even though it is less than he was hoping to get.
d. Carol sells used furniture. Sometimes customers want to haggle with her over her prices, but she typically responds, "That's the price, hon. Take it or leave it."

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Which statement is the best description of a price‑taker as it pertains to perfect competition?

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