Price Determination Under Perfect Competition ↓
In prefect competition, price is determined by the market forces of demand and supply. All buyers and sellers are price takers and not price makers. Buyer represents demand side in the market. Every rational buyer aims at maximising his satisfaction by purchasing more at lower price and lower at higher price. This is called demand behaviour of
Tuesday, 9 November 2010
Equilibrium Price Determination Under Perfect Competition
Posted on 11:34 by Unknown
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