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Snezhnost [94]
4 years ago
13

Describe the five conditions necessary for PURE competition to exist

History
1 answer:
Maru [420]4 years ago
3 0

Answer:5 Requirements of Perfect Competition

All firms sell an identical product.

All firms are price-takers.

All firms have a relatively small market share.

Buyers know the nature of the product being sold and the prices charged by each firm.

The industry is characterized by freedom of entry and exit.

Explanation:

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