Consider the following statements for the perfect market. Which of the following statement(s) is/are correct?
1. All the buyers and sellers have freedom to make entry or exit at any time in the market.
2. There are a large number of small undifferentiated buyers.
3. A single price prevail in the market.
A. Only 1
B. Both 2 and 3
C. Both 1 and 3
D. All of these
Answer: Option D
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