Question

Explain the implication of large number of buyers in a perfectly competitive Market
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Answer 1

Answer:

Explanation:

The number of buyers and sellers operating under perfect competition is very high. As the number of individual sellers very large, an individual seller cannot fix the price. Similarly no single buyer can fix the price or change it by his action.

Answer 2

The number of buyers and sellers operating under perfect competition is very high. As the number of individual sellers very large, an individual seller cannot fix the price. Similarly no single buyer can fix the price or change it by his action..

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