What are the features of perfect competition
What are the features of perfect competition
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Newton D
The following characteristics are essential for the existence of Perfect Competition:
Large Number of Buyers and Sellers: …
Homogeneity of the Product: …
Free Entry and Exit of Firms: …
Perfect Knowledge of the Market: …
Perfect Mobility of the Factors of Production and Goods: …
Absence of Price Control:
manish1008
An essential aspect of perfect competition is the absence of any monopolistic element. These are the three essential features of perfect competition: The number of buyers and sellers in the market is very large.