Question

Practical of perfect competition market. identify the areas where perfect competition prevails​

Answer 1

Answer:

• Foreign exchange markets. Here currency is all homogeneous. ...
• Agricultural markets. In some cases, there are several farmers selling identical products to the market, and many buyers. ...
• Internet related industries.

Answer 2

$\Large\mathtt\green{ }\huge\underline\mathtt\red{Answer : }$

A perfectly competitive market is a hypothetical extreme; however, producers in a number of industries do face many competitor firms selling highly similar goods; as a result, they must often act as price takers. Economists often use agricultural markets as an example of perfect competition.

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