What are the feauters of perfect competition – InterviewSolution

1.

What are the feauters of perfect competition

Answer»

Answer:

A perfectly competitive market has the following CHARACTERISTICS:

There are MANY buyers and SELLERS in the market.

Each company makes a similar product.

Buyers and sellers have ACCESS to perfect information about price.

There are no transaction costs.

There are no BARRIERS to entry into or exit from the market.

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