Question

IS DEmand function is equal with price in perfectly compititive market

Answer 1

No, the demand function is not equal to price in a perfectly competitive market. In a perfectly competitive market, the price is determined by the interaction of supply and demand. The demand function represents the relationship between the quantity of a good or service that consumers are willing and able to buy at various prices. It shows how quantity demanded changes as price changes, but it does not equal the price itself.