Point out the features of perfect competition. – InterviewSolution

1.

Point out the features of perfect competition.

Answer»

Features of perfect completion are pointed out below.

1. Large number of buyers and sellers

2. Homogeneous product

3. Freedom of entry and exit

4. Free movement of product and factors of production.

5. Profit motive.

6. Perfect knowledge of market conditions

7. Absence of transport cost

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