If all producers and sellers offer same standard quality of
product it is called _______ product.
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homognised products....
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If all producers and sellers offer the same standard quality of product it is called homogeneous products.
Explanation:
- In a market situation when different producers and sellers offer the same quality of product it results in pure competition.
- Here the competition level becomes stagnant and there is no competition. There is freedom of entry for buyers and sellers in the market.
- There are a large number of independent sellers and buyers with standardized products. No individual firm has any control over the market price.
Learn more about homogeneous products
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