In which market type are firms considered "price takers" because they take the price in the market and have no control over setting a price?

The correct answer is:  Perfect Competition.

Explanation:

Perfect Competition is a theoretical market structure in which competition is at its greatest possible level. It functions as a standard to measure the efficiency and effectiveness of real-world markets. Companies in this type of market are considered "price takers" because no single company has the overall control of the market. Each one decides what the price of the product will be according to its target consumers.

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