Define perfect competition

Assignment:

Could you please assist me with these questions?

1. Explain the Production Possibilities Frontier with the help of a table & graph?

2. Explain the Law of Demand with the help of a table & graph. Discuss in brief the factors which influence the demand for a commodity.

3. Discuss the Law of Marginal Utility Theory with the help of a table & graph.

4. What is a budget line? How the changes in income or price affect the budget line?

5. Define perfect competition. Explain graphically how is price & output determined under it both in short & long-run.

6. Define Monopolistic competition. Explain graphically how is price & output determined under it both in short & long-run.

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Define perfect competition : Define perfect competition. Explain graphically how is price & output determined under it both in short & long-run.

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