Business, 21.02.2020 04:38, Rayinz9174

A market situation in which there is a sufficiently large number of well-informed buyers and sellers of a homogeneous product such that no individual participant has enough power to determine the price of the product resulting in a marketplace that is efficient in production and allocation of products is known as

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A market situation in which there is a sufficiently large number of well-informed buyers and sellers...