Which of the following is not true about perfect competition? (a) Purchase and sale of homogeneous goods (b) Mobility of factors of production (c) Free entry and exit (d) Presence of advertisement
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Explanation:
Answer ( a ) purchase and sale of homogeneous goods
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Answer:
c)presence of advertisement
reason- there are no advertisement or selling costs as the products are homogenous in nature and there is perfect knowledge among buyers and sellers.
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