Economy, asked by romeorajkumar3290, 1 year ago

If a firm in a perfectly competitive industry raises its price above the market price

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Answered by balaramdewasi

0

Answer:

a perfectly competitive firm is known as a price taker because the pressure of competing firms forces them to accept the prevailing equilibrium price in the market. if a firm in a perfectly competitive market prices the price of each product by so much as a penny, it will loss all of its sales to competitors

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