Respuesta :
The following statements relating to a firm in an imperfectly competitive market and a firm in a perfectly competitive market is true because barriers to entry give both imperfectly competitive and perfectly competitive firms market power to raise price.
The best way to characterize an imperfectly competitive company is as having some capacity for determining prices. Market strength and some imperfect competition are both possible. As a result, businesses that are subject to imperfect competition have some degree of pricing control.
Any market with many sellers and at least one with some kind of price control is said to be imperfectly competitive. Monopolistic competition and oligopoly were the two main categories of imperfectly competitive marketplaces that we covered.
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