Why is a perfectly competitive firm called a price taker and a monopolist a price maker?

A
perfectly competitive firm operates within a structure that is defined by five criteria: a) the
sale of products that are identical to their competition b) the inability of firms to control
market price c) the ownership of a relatively small market share by each firm d) complete
transparency regarding products and prices and e) freedom of entry and exit. A perfectly
competitive firm would be characterized as a "price taker" due to its inability to
influence market price. In a perfectly competitive market, the price of the products are fixed
since each firm is producing just enough to stay in...

href="https://revisionworld.com/a2-level-level-revision/economics-level-revision/business-economics-distribution-income/concentrated-markets/price-makers-price-takers">https://revisionworld.com/a2-level-level-revision/economi...