Write reason why it is difficult for a producer to change prices in Pe

1.	Write reason why it is difficult for a producer to change prices in Perfect Competition?
Answer» ong>Answer: A perfectly competitive FIRM is known as a price taker because the pressure of COMPETING firms forces them to accept the prevailing equilibrium price in the MARKET. If a firm in a perfectly competitive market raises the price of its product by so much as a penny, it will LOSE all of its SALES to competitors. Mark as brainelist...plzzz

Write reason why it is difficult for a producer to change prices in Perfect Competition?

Answer»

ong>Answer:

A perfectly competitive FIRM is known as a price taker because the pressure of COMPETING firms forces them to accept the prevailing equilibrium price in the MARKET. If a firm in a perfectly competitive market raises the price of its product by so much as a penny, it will LOSE all of its SALES to competitors.

Mark as brainelist...plzzz

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Write reason why it is difficult for a producer to change prices in Perfect Competition?

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