Monopolists are price makers. Why is this not the case for firms in a competitive market? Which are the Correct Answer(s) 1. Other sellers sell products that are similar if not identical. 2. A competitive firm's product only makes up a small portion of the market’s total product. 3. Price controls prevent firms in a competitive market from pricing their products as they think best. 4.Even if one or more of their competitors goes out of business, other competitors will appear.