Big-box retailers such as Lowe's are considered price-takers because
A)their products are not unique.
B)there is less competition in the home improvement retail sector.
C)their products are unique.
D)they emphasize cost-plus pricing.

Question

Quizplus · Accepted Answer

Big-box retailers such as Lowe's offer products that are similar to those offered by their competitors, so they have little control over pricing and must compete on price. This makes them price-takers, as they cannot set prices based on perceived value or uniqueness of their products.

Big-Box Retailers Such as Lowe's Are Considered Price-Takers Because