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State two conditions that must exist for a market to be purely competitive.

Conditions for purely competitive market

Answers


Lydia
• Large number of sellers:
• Large number of buyers;
• Homogeneous product;
• Same price for the product;
• Free entry and exit from the market:
• Buyers and sellers have perfect knowledge of market trends.

lydiajane74 answered the question on October 11, 2017 at 14:00

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