Firms in imperfectly competitive markets are

A) more efficient than firms in perfectly competitive industries.
B) price makers.
C) price takers.
D) completely inefficient.

Imperfectly Competitive

Describes markets where individual sellers have some control over the price of their goods or services, as opposed to perfect competition where none exists.

Price Makers

Firms or entities that have the ability to influence the price of goods or services in the market due to their size, uniqueness of product, or market power.