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प्रश्न
Which combination of conditions defines pure competition?
विकल्प
Homogeneous product, perfect knowledge, no selling cost
Large number of firms, free entry only, no transport cost
Large number of buyers and sellers, homogeneous product, free entry and exit
Free entry and exit, perfect mobility, no government intervention
MCQ
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उत्तर
Large number of buyers and sellers, homogeneous product, free entry and exit
Explanation:
Pure competition is defined by three basic conditions: many buyers and sellers, a homogeneous product, and free entry and exit of firms.
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