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Market — Economics STD 11 Commerce — Question

Gujarat BoardEnglish MediumSTD 11 CommerceEconomicsMarket2 Marks
Question
With respect to Perfect Competition, explain ‘Transport Cost’.
✓

Answer

No transportation expense:
  • There are numerous buyers and sellers in perfect competition.
  • The expenses of transportation are so nominal as compared to the total expense that they are not counted.
  • Thus zero transportation expense is an important characteristic of the perfect competition.

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