If a firm has no ability to influence the market price of its product, it:

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A firm with no ability to influence the market price of its product is known as a price taker. This means that the firm must accept the market price and cannot charge a higher price without losing its customers to competitors. As a result, the firm's demand curve is perfectly elastic or horizontal, and it cannot maximize profit by setting the price higher than the market price. However, the firm can still operate and make a profit by minimizing its costs and producing at the level where the market price equals its marginal cost.

If a Firm Has No Ability to Influence the Market