Economy, asked by Avisharma3991, 1 year ago

What is meant by perfect competitive market? Draw an average revenue curve in perfect competitive market.

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Answered by mastertimixa
1

Answer:

Pure or perfect competition is a theoretical market structure in which the following criteria are met: All firms sell an identical product (the product is a "commodity" or "homogeneous"). All firms are price takers (they cannot influence the market price of their product). Market share has no influence on prices.

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