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Question -

What is price line under perfect competition?



Answer -

  1. ┬аThe price line shows the relationship between the market price and a competitive firmтАЩs output level,
  2. The vertical height of the price line is equal to the market price as shown in the given figure.

┬а ┬а ┬а ┬а ┬а ┬а ┬а ┬а ┬а ┬а ┬а ┬а ┬а ┬а ┬а ┬а ┬а ┬а

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