Question

discuss the price determination unde
r perfect competition​

Answer 1

HeYa♥

Answer--)

• In perfect competition, the price of a product is determined at a point at which the demand and supply curve intersect each other.
• This point is known as equilibrium point as well as the price is known as equilibrium price.
• In addition, at this point, the quantity demanded and supplied is called equilibrium quantity

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Answer 2

Answer:

Price determination under perfect competition is a market structure characterized by a complete absence of rivalry among the individual firms. Industry only decides the price of the goods. sellers and buyers cannot decide the price. It means the forces of supply and demand determine the determine the price of the good.