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Which of the following markets comes closest to perfect market

This question belongs to Commerce Economics
Economics
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Which of the following markets comes closest to perfect market?

Answer & Solution
Correct Answer: Option A
Wheat market comes closest to perfect market. A perfectly competitive firm is called a price taker, because the pressure of competing firms forces them to accept the prevailing equilibrium price in the market. When a wheat grower wants to know what the going price of wheat is, he or she has to go to the computer or listen to the radio to check.
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