A competitive firm is a price taker.
A perfectly competitive business must accept the equilibrium price at which it sells its products because it is a price taker. A completely competitive business will not be able to generate any sales if it seeks to charge even a small amount above the going rate.
Small businesses are typically price takers, while monopolies or large, well-established enterprises with copyrighted products are typically price makers. In the stock market, individual investors take prices. further reading.
Learn more about price taker firm here https://brainly.com/question/15416827
#SPJ4
