alleryStart learning →Home › Bihar Board Class 12 (Arts) › Economics › Forms of Market and Price Determination › Perfect competition assumes that buyers and sell…
Perfect competition assumes that buyers and sellers have:
APerfect information
BPartial information
CSecret information
DNo information
Answer & Solution
Correct answer: A. Perfect information
All consumers and producers are assumed to know all prices and the utility each product gives.
Related questions
Monopolistic competition produces what kind of products?Who published The Economics of Imperfect Competition in 1933?Oligopolists can earn abnormal profits in the long run mainly because of:Interdependent oligopolists are generally reluctant to:In a monopoly, the firm and the industry are:Economic profit in perfect competition attracts:Normal profit is counted as part of a firm's:A monopolist whose revenue exceeds its costs earns: