Explain the implications of the following in a perfectly competitive market {:((a)"Large number of sellers",(b)"Homogeneous products"):} Or Explain the implications of the following in an oligopoly market {:((a)"Barriers to entry of new firms",(b)"A few or few big sellers"):}

Explain the implications of the following in a perfectly competitive m

1.	Explain the implications of the following in a perfectly competitive market {:((a)"Large number of sellers",(b)"Homogeneous products"):} Or Explain the implications of the following in an oligopoly market {:((a)"Barriers to entry of new firms",(b)"A few or few big sellers"):}
Answer»