Read the following statements - Assertion (A) and Reason (R): Assertion: In a perfectly competitive market, no individual buyer or seller can influence the market by their size. Reasoning: There are large number of buyers and sellers in a perfectly competitive market.. From the given alternatives choose the correct one:

Both Assertion (A) and Reason (R) are true and Reason (R) is not the correct explanation of Assertion (A). Both Assertion (A) and Reason (R) are true and Reason (R) is the correct explanation of Assertion (A). Assertion (A) is true but Reason (R) is false. Assertion (A) is false but Reason (R) is true.

Both Assertion (A) and Reason (R) are true and Reason (R) is the correct explanation of Assertion (A).

The existence of a large number of buyers and sellers means that each individual buyer and seller is very small compared to the size of the market. This means that no individual buyer or seller can influence the market by their size.