1. An investor whose buying or selling transactions are assumed to have no effect on the market. 2. A firm that can alter its rate of production and sales without significantly
firm which operates in a competitive market, which accepts the prevailing market price in order not to lose its market share
under perfect competition, the firm is a price taker It has no choice but to accept the price that has been determined in the market
A firm, household, or other economic agent that constitutes such a small share of the market for a good that its decisions do not influence the market price
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