O-LevelEconomicsMicroeconomic decision makers2281/12 · May/June 2018 · Q121 Mark

What is a characteristic of a perfectly competitive firm?

Aabsence of competitors

Bnon-price competition

Cone dominant firm

Dprice taker

✓ Correct answer

D: price taker

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Topic: Microeconomic decision makers, O-Level Economics (syllabus 2281). Multiple choice, 1 mark.
Source: O-Level Economics, May/June 2018 Paper 1 Variant 2, question 12.

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