Monopolists are price takers.

Monopolists

Firms or individuals that are the sole providers of a particular good or service, giving them significant market power.

Price Takers

Participants in a market who accept the prevailing market price because they do not have enough power to influence it.

Identify the role of price takers and price setters in different market structures.

Verified Answer

Final Answer :

False

Explanation :

Monopolists are price makers because they have significant control over the price of their product due to the lack of competition in their market.

Learning Objectives

Identify the role of price takers and price setters in different market structures.