Economy, asked by khan08648, 6 months ago

Long Question
1. Define perfect competition and explain its main features.

Answers

Answered by tarun2008K

Answer:

Meaning and Definition of Perfect Competition:

A Perfect Competition market is that type of market in which the number of buyers and sellers is very large, all are engaged in buying and selling a homogeneous product without any artificial restrictions and possessing perfect knowledge of the market at a time.

Explanation:

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