In which market a firm cannot determine price?

Perfect competition

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Monopoly

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Monopolistic competition

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Oligopoly

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Solution

The correct option is B Perfect competition
The situation prevailing in a market in which buyers and sellers are numerous and well-informed that all elements of monopoly are absent and the market price of a commodity is beyond the control of individual buyers and sellers.

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In which market a firm cannot determine price?

The correct option is B Perfect competitionThe situation prevailing in a market in which buyers and sellers are numerous and well-informed that all elements of monopoly are absent and the market price of a commodity is beyond the control of individual buyers and sellers.

The correct option is B Perfect competition
The situation prevailing in a market in which buyers and sellers are numerous and well-informed that all elements of monopoly are absent and the market price of a commodity is beyond the control of individual buyers and sellers.