An imperfectly competitive firm is one that: a

Economics Jan 30, 2021

An imperfectly competitive firm is one that: a. has some degree of influence over the price it charges for its output. b. charges any price it wishes c. maximizes revenues d. confronts a perfectly inelastic demand curve.

Expert Solution

The correct option is A "Has some degree of influence over the price it charges for its output".

Imperfectly competitive market consist of many firms which offers varied goods to the consumers. The firm usually charges high price for their goods compared to the firm in perfect competition.

An imperfectly competitive firm is one that has some degree of influence over the price it charges for its output.

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