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characteristics

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characteristics
Answered Same Day Dec 23, 2021

Solution

Robert answered on Dec 23 2021
125 Votes
What is pure competition and characteristics?
Answer:
Purely competitive market is a market having large number of producers, large number of
consumers, homogeneous product, free exit and entry, no selling cost and perfect information
among market participants.
It has following characteristics:
1. Large number of producers; this market has large number of small producers...
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