23. Point out the essential features of pure competition
24. What is selling cost?
Answers
Answer:
23)))The following characteristics are essential for the existence of Perfect Competition:
a)Large Number of Buyers and Sellers: ...
b)Homogeneity of the Product: ...
c)Free Entry and Exit of Firms: ...
d)Perfect Knowledge of the Market: ...
e)Perfect Mobility of the Factors of Production and Goods: ...
f)Absence of Price Control:
24)one of the costs, or the total cost, of marketing and selling a product or service is called the selling cost.
Explanation:
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Answer:
23 ) The following Characteristics are essential for the existence of perfect competition;
● Large Number of Buyers and Sellers :...
● Homogeneity of the product:...
● Free Entry and Exit of Firms:...
● Perfect Knowledge of the Market:...
● Perfect Mobility of the Factors of Production and Goods:...
● Absence of Price Control :...
24 ) Selling expenses are the costs associated with distributing , marketing and selling a product or service. They are one of three kinds of expense that make up a company 's operating expenses....
Selling costs such as wages , commissions and out- of - pocket expenses .