Imperfect Competition Imperfect competition includes industries in which firms have competitors but do not face so much competition that they are price takers. H arc Inc. items and derived items c ht o 2001 by Harcourt, IncHarcourt, Inc. items and derived items copyright © 2001 by Harcourt, Inc. Imperfect Competition Imperfect competition includes industries in which firms have competitors but do not face so much competition that they are price takers