Economy, asked by dinahchoba, 2 months ago

Who determines the price in perfect markets?

Answers

Answered by gursharanjali

Answer:

In a perfectly competitive marketindividual firms are price takers. Theprice is determined by the intersection of the market supply and demand curves. The demand curve for an individual firm is different from a market demand curve.

Answered by madhumitha4687

Price Determination in a Perfect Competition Market. In a Perfectly Competitive Market or industry, the equilibrium price is determined by the forces of demand and supply. Equilibrium signifies a state of balance where the two opposing forces operate subsequently.

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