Please explain it with details

a Q1. Why do we have to learn about the perfect capital market? With the perfect capital market assumption, we learned the Modigliani and Miller theorem as well as different financial structure no longer affects a firm's value. It sounds very unrealistic, but we also learn a different it case that this sort of assumption is relaxed and still the theorem or our intuition holds. What does this mean? Again, I raise a question for all learners in this class: Why do we need to learn the perfect capital market? Do you think it (the assumption, of course) is helpful to understand the market dynamism, or not at all? Please use any concepts we learned in this class when you try to argue it