Economy, asked by jains8624, 11 months ago

In perfect competition market the seller gets normal profit only why 2

Answers

Answered by crystal015
0
A firm under perfect competition has no control over price. In this scenario, a single firm does not have any significant market power. As a result the industry as a whole produces the socially optimal level of output because none of the firms have the ability to influence market prices. And that's why the seller gets normal profit only.
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