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In a perfect competition, the market price is determined by_______

Economics
JAMB 2019

In a perfect competition, the market price is determined by_______

  • A. the government
  • B. the producer
  • C. the consumer
  • D. the market supply and demand junctions
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Correct Answer: Option D
Explanation

Since the buyers or sellers cannot influence the price of goods and services. The Demand and Supply determined the price the firm can sell any quantity it wishes.

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