Which of them is a characteristic of a price taker

Related MCQs

• In a competitive market ……………….. is the price taker
• If the price elasticity of demand for wine is estimated to be -.6, then a 20% increase in price of wine will lead to ………………….in quantity demanded of wine at that price
• If the price elasticity of demand of Chicken is +.95. then a 20% increase in price of chicken will lead to in quantity demanded of chicken at that price
• Tea and Coffee are perfect substitute of each other, given the price of Tea and Coffee being `100 and `200 per Kg. a consumer is prepared to buy 3 Kg. of each. If the price of tea remain same and the price of Coffee rises to `400 per kg. the demand for Tea goes to 6 Kg. and that of Coffee falls to 1Kg. The elasticity of substitution between Tea and Coffee is
• What will happen to the equilibrium price and quantity of peanut butter if peanuts increase in price and the price of jelly decreases?
• Which of the following is correct for the price ceiling which is set below the market‟s equilibrium price?
• If the price of burger rises from `12 per piece to `20 per piece as a result of which the daily sales decreases from 300 to 200 pieces per day. The price elasticity of demand can be estimated as
• If the price of vegetable sandwich rises from `6 per piece to `12 per piece as a result of which the daily sales decreases from 800 to 400 pieces per day. The price elasticity of demand can be estimated as
• Which of the following is correct for a price floor set above the equilibrium price?
• If the price of coffee falls by 8% and the demand for Tea declines by 2%. The corss price elasticity of demand for Tea is