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Question : In which among the following markets does a firm not exercise control over price?

Option 1: Mixed competition

Option 2: Monopoly

Option 3: Oligopoly

Option 4: Perfect competition


Team Careers360 18th Jan, 2024
Answer (1)
Team Careers360 25th Jan, 2024

Correct Answer: Perfect competition


Solution : The correct answer is Perfect competition .

A company does not have pricing control over its goods in a perfectly competitive market. Perfect competition is a market system that is distinguished by many essential characteristics. There are countless tiny enterprises in a completely competitive market, each producing similar or homogenous items. These companies have little market power and are classified as price takers, which means they must accept the market price as it is and cannot change it with their activities.

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