Explain why in a perfectly competitive market the firm is a, Econometrics

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Explain why in a perfectly competitive market the firm is a

1. Look at the list to the left. In what type of market is each good or service in the list sold? Explain your answers.

2. Explain why in a perfectly competitive market, the firm is a price taker. Why can't the firm choose the price at which it sells its good?

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