To what extent, can a firm influence the price under:(a) perfect competition (b) monopolistic competition (c) monopoly (d) oligopoly
a) No influence
b) Adequate
c) Substantial- Depending upon nature of commodity
d) Substantial- Depends if cartel is formed or not and hence the agreement
b) Adequate
c) Substantial- Depending upon nature of commodity
d) Substantial- Depends if cartel is formed or not and hence the agreement