Defend or refute the statement. Write ‘yes’ or ‘no’ with reaso – InterviewSolution

1.	Defend or refute the statement. Write ‘yes’ or ‘no’ with reason:Under perfect competition, equilibrium price is determined by the forces of market demand and market supply.
Answer» Yes. Under perfect competition, equilibrium price is determined at the point of intersection of market demand and market supply. An individual firm cannot change it.

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