In case of perfect competition, the horizontal straight line demand curve indicates that an individual firm has no control over price of his product. Comment.

In case of perfect competition, the horizontal straight line demand cu

1.	In case of perfect competition, the horizontal straight line demand curve indicates that an individual firm has no control over price of his product. Comment.
Answer» Solution :The given statement is correct. An individual firm under perfect COMPETITION is a PRICE TAKER and has to accept the price FIXED by the market forces of demand and SUPPLY.