An In the News article, "T-Shirt Shop Owner's Lament: Too Many T-Shirt Shops," states that if T-shirt shops are perfectly competitive firms, then each shop

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If T-shirt shops are perfectly competitive firms, then each shop is a price taker. This means that the shop must accept the market price for T-shirts rather than setting its own price. In a perfectly competitive market, there are many buyers and sellers and no one seller has the power to influence the market price. Therefore, each shop would have to sell T-shirts at the prevailing market price, without any market power or ability to set their own price.

An in the News Article, "T-Shirt Shop Owner's Lament: Too