Under perfect competition, equilibrium price is determined by the forces of market demand and market supply.

True

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False

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Solution

The correct option is A True
True.
Under perfect competition, equilibrium price is determined at the point of intersection of market demand and market supply. An individual firm cannot influence the equilibrium price.

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Under perfect competition, equilibrium price is determined by the forces of market demand and market supply.

The correct option is A TrueTrue.Under perfect competition, equilibrium price is determined at the point of intersection of market demand and market supply. An individual firm cannot influence the equilibrium price.

The correct option is A True
True.
Under perfect competition, equilibrium price is determined at the point of intersection of market demand and market supply. An individual firm cannot influence the equilibrium price.