Question

multiple choice question a purely competitive firm can maximize its economic profit (or minimize its loss) by adjusting only its output because it has access to unlimited resources has market power is a price maker is a price taker need help? review these concept resources. read about the concept

Explanation:

In a purely competitive market, firms are price - takers. They have no market power to influence the price. So, they can only adjust their output level to maximize profit or minimize loss based on the market - determined price. They don't have access to unlimited resources, and they are not price - makers.

Answer:

is a price taker