explain features of perfect knowledge about the market?
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Perfect knowledge means that both the buyers and sellers are fully informed about the market price. Its implication is that no firm is in a position to charge a different price and no buyer will pay a higher price. Both buyers and sellers have perfect knowledge about the input markets.
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Perfect knowledge means that both the buyers and sellers are fully informed about the market price. Its implication is that no firm is in a position to charge a different price and no buyer will pay a higher price. Both buyers and sellers have perfect knowledge about the input markets.
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