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Homework answers / question archive / A price-maker: a

A price-maker: a

Marketing

A price-maker:

a. can sell its product at any price.

b. is a characteristic held by a perfectly competitive firm.

c. will always make economic profits.

d. has some control over the price it charges.

e. must set the price at the market price.

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The correct answer is d) has some control over the price it charges

A price-maker is one who can make decisions regarding the price of goods and services. Producers in the monopolistic market, oligopolistic market, and a monopoly market are price-makers because they control the prices of goods and services they produce. However, the control over the prices is not equal for everyone. For example, a monopolist has the highest control over the prices, and the producer in the monopolistic market has the least control over prices.