When buyers in a competitive market take the selling price as given, they are said to be
A)market entrants.
B)monopolists.
C)free riders.
D)price takers.

Question

Quizplus · Accepted Answer

When buyers in a competitive market take the selling price as given, they have no control over the price and have to accept the prevailing market price set by the sellers. Hence, they are called price takers. Market entrants are new businesses entering the market, monopolists are sellers with a monopoly in the market, and free riders are individuals or companies that benefit from public goods without paying for them.

When Buyers in a Competitive Market Take the Selling Price