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Answer to Question #299173 in Economics of Enterprise for TjS

Question #299173

what is a perfectly competitive market


1
Expert's answer
2022-02-18T09:01:15-0500

A perfectly competitive market is a theoretical market structure where there are many buyers and sellers with symmetrical and full information, there are no barriers to entry and exit, and there are no transaction costs. Also, in such a market, homogenous or undifferentiated products are sold.


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