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For perfect competition indicate the correct answer for essential conditions from...

This question belongs to Management Managerial Economics
Managerial Economics
?

For perfect competition, indicate the correct answer for essential conditions from the following.
1. Large number of buyers and sellers
2. Perfect knowledge of the market
3. Homogeneous product for sale
4. Absence of transportation cost
5. Freedom of entry and exit of buyers and sellers from the market
6. Rational Behaviour of buyers and sellers

Answer & Solution
Correct Answer: Option C
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