In which market structure does a firm have the LEAST influence over the market price?

Question

Quizplus · Accepted Answer

In perfect competition, there are many small firms in the market, and none of them have the power to influence the market price. Each firm must accept the market price as given and adjust its production level accordingly. Therefore, a firm in perfect competition has the least influence over the market price. In contrast, a monopoly has complete control over the market price, while firms in monopolistic competition and oligopoly have some degree of influence over the price.

In Which Market Structure Does a Firm Have the LEAST