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imperfect competition is price taker and industry is price maker ? why ?

Posted by Vishnu Kaushik 6 years, 11 months ago

CBSE > Class 11 > Economics

1 answers

Neha _ 6 years, 11 months ago

In perfect competition firm is price taker and industry is price maker because a single saler and buyer are not in a position to influence prices (because there share in market is very small ) so they have to accept the pices determine by demand and supply forces . In your question it will be perfect comp. in place of imperfect comp.

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