Under which of the following forms of market structure does a firm have no control over the price of its product?

Monopoly
Monopolistic competition
Oligopoly
Perfect competition

LohaHridoy

4 views

2025-01-04 04:42

1 Answers

AhmedNazir

Answer: Option 4

Under Perfect competition forms of market structure does a firm have no control over the price of its product. All goods in a perfectly competitive market are considered perfect substitutes, and the demand curve is perfectly elastic for each of the small, individual firms that participate in the market. These firms are price takers–if one firm tries to raise its price, there would be no demand for that firm's product

4 views Answered 2022-09-01 13:21

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