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Question
______ is relevant to perfect competition.
Options
Perfectly inelastic demand
Perfectly elastic demand
Downward sloping demand curve
Highly elastic demand curve
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Solution
Perfectly elastic demand is relevant to perfect competition.
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RELATED QUESTIONS
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______ is essential for a market to be called as perfect competition.
Firms under ______ are free to enter or leave the industry any time.
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Large number of buyers and sellers
Which feature ensures that buyers are indifferent between different sellers in perfect competition?
