Why there is perfect knowledge among buyers and sellers in the perfect cpmpetition?
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Heya...
Perfect competition is that market in which....
** Large no of buyers and sellers of the product...
** Product of each seller are homogeneous...
** No price control of any individual firm...
So ,, buyer knows that product is homogeneous so prices also same so the producer can't cheat with buyers...
As the buyers have perfect knowledge that they haven't to give extra charges...
-- Be Brainly....
Perfect competition is that market in which....
** Large no of buyers and sellers of the product...
** Product of each seller are homogeneous...
** No price control of any individual firm...
So ,, buyer knows that product is homogeneous so prices also same so the producer can't cheat with buyers...
As the buyers have perfect knowledge that they haven't to give extra charges...
-- Be Brainly....
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