savannahcurry2 savannahcurry2

22-02-2019
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What are the five characteristics of perfect competition?

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huntrw6 huntrw6

22-02-2019

1. Large number of buyers and sellers.

2. Homogeneity of the product.

3. Free entry and exit of firms.

4. Perfect knowledge of the market.

5. Perfect mobility of the factors of production and goods.

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