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प्रश्न
State with reason whether you agree or disagree with the following statement:
The seller is a price taker in perfect competition.
पर्याय
Agree
Disagree
MCQ
चूक किंवा बरोबर
उत्तर
I agree with the above statement.
Reasons:
- There are many possible sellers of their homogeneous good in the market in perfect competition.
- When there is perfect competition, there are so many vendors that it is impossible for one seller to affect the market price.
- The interplay of market supply and demand for a commodity determines the product's price in a perfect competition.
Therefore, under perfect competition, the seller is a price taker.
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