Answer :
A perfectly competitive firm is a price taker, meaning it must sell its products at the market-determined equilibrium price and cannot influence this price due to the competitive nature of the market with many sellers and homogeneous products.Thus the option 1 price taker - it takes the price given by the market is the correct answer.
A perfectly competitive firm is known as a price taker, which means that it must accept the equilibrium price set by the market for its products. These firms are small players in the market and have no control over the price of the goods they sell. If they attempt to charge even slightly more than the prevailing market price, they will lose all of their sales to competitors. In such markets, there are typically thousands of sellers, the products are homogenous, and there is free entry and exit of firms. This leads to a situation where, in the long run, all firms have entered or exited the industry, and normal profits reach zero due to the intense competition.