with the aid of graphs, explain how the price in a perfect market is determined. how can individuals maximise their profit in this market structure?
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In this market structure there are many sellers and buyers. One buyer or seller has no influence on the market price; this is because contribution of individual buyer in the total demand is of fewer amounts almost negligible. The contribution of single supplier in total supply is also almost negligible.so changes in the demand of single buyer or changes in the supply of single supplier will have no effect or influence on the market price
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