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Heya ...
@@ Yes perfect competition is the price taker not a price maker....
@@ Because there r large no of sellers and large no of buyers in this form of market....
@@ Product of each seller is homogeneous to this other seller....
@@ Market forces demand and supply creates prices no right to control that have the producer....
@@ So producer can sell any amount of commodity at prevailing prices it creates perfect elastic demand curve...
@@ Yes perfect competition is the price taker not a price maker....
@@ Because there r large no of sellers and large no of buyers in this form of market....
@@ Product of each seller is homogeneous to this other seller....
@@ Market forces demand and supply creates prices no right to control that have the producer....
@@ So producer can sell any amount of commodity at prevailing prices it creates perfect elastic demand curve...
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Market structure refers to the nature and degree of competition in the market for goods and services. The structures of market both for goods market and service (factor) market are determined by the nature of competition prevailing in a particular market.
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