what are perfect competition pricing strategiesSolutionThe o

what are perfect competition pricing strategies?

Solution

The only \"Strategy\" for perfect competitive pricing is to accept the market price.

In a perfectly competitive market, price is determined by equality of market demand and market supply curves. Since each firm is very small, none can affect market price and they have to accept the market price as their own price: Each firm is a price taker and none can set their own price by formulating different price strategy.