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Which One of the Following Statements Is Correct

Question 1

Multiple Choice

Which one of the following statements is correct?


A) A price setter must accept the prices set by other players in the market.
B) A price taker must pay the price demanded by a supplier of goods and services.
C) A price setter is unable to influence the price of goods or services.
D) A price taker must set the same prices as those determined by more powerful players in the market.

Correct Answer:

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