If a seller is a price taker it means that the seller sells

If a seller is a price taker it means that the seller sells his product at the price

he chooses.

determined in the market.

determined by the biggest firm in the market.

determined by the largest consumer in the market.

none of the above

Solution

Answer is b. Determined in the market.

Explanation; The firm is a price taker then the industry as a whole is a price maker and determine the prices on the basis of aggregate demand and supply of the industry as a whole.