A teenaged babysitter is similar to a firm in a perfectly competitive industry in that, for both

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Both a teenaged babysitter and a firm in a perfectly competitive industry have many other suppliers offering similar goods or services. In the case of a perfectly competitive industry, this leads to price taking behavior and a lack of control over the market price. Similarly, a teenaged babysitter may have little control over their hourly wage due to competition from other babysitters in their area.

A Teenaged Babysitter Is Similar to a Firm in a Perfectly