In perfect competition,price is determined by the
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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.
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.