Q711
Comparing the equilibrium position of a buyer with that of a producer in a pefectly competitive market, it is found that in perfect competition
A.
The price of a buyer is higher and the output is relatively higher than that of the producer
B.
The price of a buyer is less than that of the producer and the output is relatively high
C.
The price of a buyer is less as compared to the producer and the output is also relatively less
D.
The price of a buyer is higher than that of the producer and the output is also relatively less
AnswerAnswer: Option D
Solution
Answer: Option D
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