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Question
Assertion (A): In perfect competition, price is determined by the forces of demand and supply.
Reasoning (R): The number of buyers and sellers is so large that one person can not influences prices.
Options
(A) is true, but (R) is false.
(A) is false, but (R) is true.
Both (A) and (R) are True and (R) is the correct explanation of (A).
Both (A) and (R) are True and (R) is not the correct explanation of (A).
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Solution
Both (A) and (R) are True and (R) is the correct explanation of (A).
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