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 ____.
firm pricenoun [ C ] uk â us â. âº FINANCE a price that has been arranged and that will not change: While the mall's owners have put no firm price on the expansion, they have said it will reach at least $1 billion. âº COMMERCE, FINANCE a price that is not going down and may go up: Firm prices and strong demand for gypsum products led to a 25% increase in operating profit. (Definition of âfirm priceâ from the Cambridge Business English Dictionary Â© Cambridge University Press)