5 40. Why are firms in Perfect Competition known as Price takers: of Select one: a. There are barriers to entry 6. The output decision of one firm influences the overall market supply C. The market price will not alter if one firm changes its output level d. The firm can bring down the market price by selling large quantities 26 33. One of the conditions for a Perfect Competition is: ed out of Select one: a. Same price for the homogenous product b. Product differentiation an c. Price Discrimination d. Different prices for the homogenous product