Question

If all producers and sellers offer same standard quality of

product it is called _______ product.

Answer 1

homognised products....

Answer 2

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

What is the significance homogeneous product? ​

https://brainly.in/question/8330996

Implications of homogeneous product under perfect competition

https://brainly.in/question/6042199