ECONOMICS
COMPETITION AND MARKET STRUCTURES
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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SSEMI3 b This market structure has a large number of buyers and sellers with identical products
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Perfect Competition
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Monopolistic Competition
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Oligopoly
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Monopoly
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Explanation:
Detailed explanation-1: -In a perfect competition market structure, there are a large number of buyers and sellers. All the sellers of the market are small sellers in competition with each other. There is no one big seller with any significant influence on the market. So all the firms in such a market are price takers.
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