question archive Firms are considered to be price searchers, as opposed to price takers, in all of the following market types except: a) oligopoly
Firms are considered to be price searchers, as opposed to price takers, in all of the following market types except: a) oligopoly
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Firms are considered to be price searchers, as opposed to price takers, in all of the following market types except:
a) oligopoly.
b) perfect competition.
c) monopoly.
d) monopolistic competition.
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Firms are considered to be price searchers, as opposed to price takers, in all of the following market types except (b) perfect competition. In a monopoly, oligopoly, and monopolistic competition, all firms have market power, so they can determine the price that they want to set for their product. In perfect competition, on the other hand, the price is set by the market as a whole and all firms sell their output at this market price.
