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How much control over price do companies in a perfectly competitive market have?

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How much control over price do companies in a perfectly competitive market have?

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  1. None!!


  2. Keep this in mind: if there's ever such an exam question asked to you, you have to explain that every firm in a perfectly competitive market are price takers, hence it is assumed that they do not have any control over pricing by definition. Hope that is sufficient for you :)

  3. None above market price but below price they are free to do whatever they want - but there is no motivation to do so.
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