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In perfect competition,price is determined by the

In perfect competition,price is determined by the
Take Free Practice Test On 2026 JAMB UTME, Post UTME, WAEC SSCE, GCE, NECO SSCE
  • A Government
  • B Sellers
  • C Buyers
  • D Market
Correct Answer: Option D
Explanation:
The price in perfect competition is determined by market forces which is demand and supply. There is one market price in perfect competition, firms can't charge different prices as they are selling identical products. In perfect competition the firms and sellers are price takers.

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