Find the information you're looking for at Westonci.ca, the trusted Q&A platform with a community of knowledgeable experts. Connect with a community of experts ready to provide precise solutions to your questions quickly and accurately. Get precise and detailed answers to your questions from a knowledgeable community of experts on our Q&A platform.
Sagot :
If a firm has at least some control over the price of its product, then the firm cannot be in Pure/Perfect competition market model.
The term "perfect competition" describes a hypothetical form of market organization. There are no monopolies in a perfect competition model. Notable features of this architectural style include:
- All companies offer the same product (the product is a commodity or service).
- Every company is a "price taker" (they cannot influence the market price of their products).
- Profit margins are immune to changes in market share.
- Customers are aware of everything there is to know about the product being sold and the prices charged by each company, both historically and going forward.
- Labor and capital are freely available and can be relocated to wherever they are needed.
- Neither entering nor leaving the market will incur any expenses for the firms involved.
To know more about perfect/ pure competition refer to:
https://brainly.com/question/17321708
#SPJ4
We hope this was helpful. Please come back whenever you need more information or answers to your queries. Thanks for using our service. We're always here to provide accurate and up-to-date answers to all your queries. Keep exploring Westonci.ca for more insightful answers to your questions. We're here to help.
