Perfect competition is a market environment with following
Perfect competition is a market environment with following features-
1. Many buyers and many sellers.
2. Homogeneous product manufactured by firms.
3. Free entry and exit
4. Information are freely available
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perfect competition is a market environment with following features-1 many buyers and many sellers2 homogeneous product
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a consumer spends time t searching for a good the price of which is ptassume the longer the search goes the lower price
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