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What is implication of homogeneous products in perfect competition

Posted by Khushal Gohel 4 years, 3 months ago

CBSE > Class 11 > Economics

1 answers

Maheshwari Mansi 4 years, 2 months ago

implication of homogeneous product is that buyers treat the products as identical therefore the buyers are willing to pay only the same price for the products of all the firms in the industry it also implies that no individual firm is in a position to charge a higher price for its product this ensures uniform price in the market

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CBSE > Class 11 > Economics