Answer
Ans -- option c : takes its price as given by market conditions.
Work Step by Step
A perfectly competitive firm is characterised by the presence of large number of buyers and sellers in the market. Due to this, the bargaining power of any single seller or buyer over the price is negligible. Hence, a firm in a perfectly competitive market can take the price as decided by the demand and supply forces of the market. In other words, in a perfectly competitive market, firms are price takers.
