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Under perfect competition the number of firms
  • a)
    Is about 10
  • b)
    Are many but limited
  • c)
    Is large
  • d)
    Is limited
Correct answer is option 'C'. Can you explain this answer?
Most Upvoted Answer
Under perfect competition the number of firmsa)Is about 10b)Are many b...
Perfect competition is a type of market where there are many buyers and sellers, and all of them initiate the buying and selling mechanism. There are no restrictions and no direct competition in the market. It is assumed that all the sellers are selling identical or homogenous products.
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Under perfect competition the number of firmsa)Is about 10b)Are many but limitedc)Is larged)Is limitedCorrect answer is option 'C'. Can you explain this answer?
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