With the aid of graphs,explain how the price in a perfect market is de – InterviewSolution

1.	With the aid of graphs,explain how the price in a perfect market is determined.how can individual maximize their profit in this market structure
Answer» PROFIT Maximization In order to maximize profits in a PERFECTLY competitive market, firms set marginal REVENUE EQUAL to marginal COST (MR=MC). MR is the slope of the revenue curve, which is also equal to the demand curve (D) and price (P).I hope it will be helpful to you friend

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