pricetakers
A pricetaker is an entity, typically a firm in economics, that has no ability to influence the market price of a good or service. In a perfectly competitive market, individual firms are so small relative to the overall market that their decisions to buy or sell do not affect the prevailing price. Consequently, pricetakers must accept the market price as given and make their production or consumption decisions based on that price.
The concept of a pricetaker is a fundamental assumption in many economic models, particularly those describing
For producers, being a pricetaker means their profit-maximizing output level is determined by equating their marginal