Explain the implication of free entry and free exit of a firm in the perfect competition market.
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Explain the implication of free entry and free exit of a firm in the perfect competition market.
Answer: The implication of free entry and free exit of a firm in the perfect competition market is that in this market structure no company earn an unusual profit. Each company just earns a normal profit.
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As per the order issued by the Delimitation Commission in 2008 , 412 are general, 84 seats are reserved for Scheduled Castes and 47 seats for the Scheduled Tribes .
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