One prolonged blast from the horn of a vessel serves as a warning to other ships that an unseen vessel is in the water. Any vessels within earshot of the prolonged horn blast should reply with a prolonged blast of their own.
A firm is likely to be a price taker whenâ¦.. it sells a product that is exactly the same as every other firm. It represents a small fraction of the total market. Consumers are usually price takers when they buy most goods and services because ____, while relatively few firms are price takers because ____.
â¢ A price taking producer is a producer whose actions have no eï¬ecton the market price of the good or service it sells. â¢ In general, for producers and consumers to be price takers thereneeds to be many independent ï¬rms and consumers in the market,all of whom, believe that their decisions will not aï¬ect prices.