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One of the assumptions of imperfect markets is:
  • a)
    Perfect information.
  • b)
    Homogeneous products.
  • c)
    Many small firms.
  • d)
    Identical preferences among consumers.
Correct answer is option 'A'. Can you explain this answer?
Most Upvoted Answer
One of the assumptions of imperfect markets is:a)Perfect information.b...
Imperfect markets assume that there is imperfect or incomplete information available to buyers and sellers. This lack of perfect information can lead to market inefficiencies, such as information asymmetry or market power.
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One of the assumptions of imperfect markets is:a)Perfect information.b)Homogeneous products.c)Many small firms.d)Identical preferences among consumers.Correct answer is option 'A'. Can you explain this answer?
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