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Question
Same price across the market is a feature of which of the following market structures?
Same price across the market is a feature of which of the following market structures?
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Solution
The correct option is A Perfect competition
Under perfectly competitive market, there are a large no of buyers and sellers with homogeneous products. Both the consumers/buyers and sellers have the perfect information about market conditions therefore no seller can charge higher prices hence same price prevails across the market.
Under perfectly competitive market, there are a large no of buyers and sellers with homogeneous products. Both the consumers/buyers and sellers have the perfect information about market conditions therefore no seller can charge higher prices hence same price prevails across the market.
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