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If a firm has at least some control over the price of its product, then the firm cannot be in which market model?

Respuesta :

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

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