tiyasharma2904
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  • 21-08-2020
  • Social Studies
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Explain ‘ Homogeneous Products’ feature of perfect competition.

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charum charum
  • 24-08-2020

Answer:

Homogeneous Products

Explanation:

In a perfectly competitive market, buyers treat the product produced by different firms as homogeneous. So they are willing to pay the same price for products of different firms. No firm, therefore, can charge a price higher than the market determined Price

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