Answer: Option (d) is correct.
Explanation:
Correct option: All of the above are correct.
In a perfectly competitive market, there are large number of buyers and sellers. Price and demand of the commodities are determined by the market forces. All the firms in a competitive market are price taker.
Any single firm cannot influence the market price. If a single firm tries to increase their price by a small amount, will lose all of its product demand to other firms. This is because of the competition among the firms.
Answer:
I dont really know i nee the points tho sorry hope you find help
Explanation:
It will fall under microeconomics. Microeconomics, from the prefix micro meaning small, it is a branch of economics that studies the actions of individuals and firms in making choices regarding the distribution of limited resources and the relations among these individuals and firms.One goal of microeconomics is to examine the market mechanisms that establish comparative prices among goods and services and allot limited resources among alternative uses. Microeconomics shows situations under which free markets lead to required allocations. It also analyzes market failure, where markets fail to make effective results.