Economy, asked by riskylathwal3307, 10 months ago

Describe the main characteristics of perfectly competitive market.

Answers

Answered by DrPatelJi
1

Explanation:

A perfectly competitive market is characterized by many buyers and sellers, undifferentiated products, no transaction costs, no barriers to entry and exit, and perfect information about the price of a good. The total revenue for a firm in a perfectly competitive market is the product of price and quantity (TR = P * Q).

Answered by Anonymous
0

Answer:

It is the perfectly competitive market......‼️❤️‼️

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