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wel
3 years ago
5

Explain ‘ Homogeneous Products’ feature of perfect competition.

Social Studies
1 answer:
adelina 88 [10]3 years ago
7 0

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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