Which of the following represents a price taker?

A price taker is a participant in a market whose activities do not influence the market price of a good or service. In a competitive market, numerous buyers and sellers exist, each contributing only a small fraction to the overall supply and demand. As a result, individual buyers or sellers cannot affect the market price; they accept the prevailing market price as given. This dynamic establishes the condition for price-taking behavior.

For example, in a highly competitive market such as agriculture, individual farmers sell their products at market prices determined by overall supply and demand. No single farmer can influence the market price due to their relatively small production levels compared to the total market.

In contrast, a large corporation that sets market prices indicates that it has significant market power, which is characteristic of price makers, not price takers. Monopolists, who control market supply, are also price makers because they can set prices above the equilibrium level to maximize profits. A government-regulated market participant may operate under certain price constraints but is not a price taker if the regulation allows for price-setting or does not function within a competitive framework. Hence, the correct option clearly exemplifies the characteristics of a price taker in a competitive market.