Question

Explain perfect competition in market?

Answer 1

Heya.....

====== Answer =====

• Perfect competition is that market in which there are large no of buyers and sellers of a same product...

• Product of each seller is homogeneous....

• The prices are decided by the market forces demand and supply not by the any individual...

• The elasticity of this firms are perfectly elastic....

• There is freedom of free exit and entry of any firm...

Thank you

Answer 2

Hello Friend..❤️❤️

The answer of u r question is..✌️✌️

✔️✔️Perfect competition is that market in which there are no larger number of buyers...........product Fi each seller is homogenous...there is freedom of free exist of any firm..the prices are decided by the market forces demand and supply is not be any individual..✔️✔️

Thank you..⭐️⭐️⭐️