Question

Explain the implication of large number of seller feature of perfect competition.
Class XII
Forms of market & price determination

Answer 1

Heya....

Good to answer this question....

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Large no of buyers and sellers is a basic characteristic of the perfect competition .....

It's implications are...

"" A firm can sell any amount of commodity at the prevailing prices...

"" Firms demand curve is horizontal straight line as infinity elasticity...

"" Firm has no control on prices ..

"" Firms are price taker,, not price maker..

-- Be Brainly...

Answer 2

Inflation is the decline of purchasing power of a given currency over time. A quantitative estimate of the rate at which the decline in purchasing power occurs can be reflected in the increase of an average price level of a basket of selected goods and services in an economy over some period of time.