FACTOR PRICING UNDER IMPERFECT COMPETITION:- 1. Introduction: Perfect competition is unreal market situation and what we find in the real world markets is imperfect competition. In imperfect competition demand curve (AR) slopes downwards and AR and MR are different. [V.M.P. = M.P.P.×Price (or AR)] V.M.P. — Value of Marginal Physical Product MPP...