Ask Question
28 September, 09:21

The following statements are the characteristics of perfect competition market.

Which one is true?

a. Homogeneous products and perfect information

b. Identical products and imperfect information

c. Differentiated products and asymmetric information

d. Homogenous information and imperfect products

+4
Answers (1)
  1. 28 September, 09:45
    0
    a. Homogeneous products and perfect information

    Explanation:

    A perfect competition market is a market in which the level of competition is high.

    It has the following characteristics -

    1. Knowledge is perfect in this competition of producer and consumer with respect to the market.

    2. Free entry and exit

    3. Deals with homogeneous or identical products

    4. The buyers and sellers are more in this market

    5 No transportation exist
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “The following statements are the characteristics of perfect competition market. Which one is true? a. Homogeneous products and perfect ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers