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Market Equilibrium — Economics STD 12 Humanities & Commerce — Question

Rajasthan BoardEnglish MediumSTD 12 Humanities & CommerceEconomicsMarket Equilibrium1 Mark
Question
Define perfect competition.
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Answer

Perfect competition is a form of the market where there are a large number of buyers and sellers of the commodity. Homogeneous product is sold at a uniform price.

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