Which of the following is one of the assumptions of perfect competition?

Which of the following is one of the assumptions of perfect competition? Correct Answer Many buyers and many sellers

Many buyers and many sellers is one of the assumptions of perfect competition. Yes, in a perfectly competitive market, there are many buyers and many sellers. As a consequence, they have no market power and cannot influence the market price. This is an assumption of the model of perfect competition.
Bissoy MCQ

Related Questions

The prize competition was 'touted' as a showcase for new technology, but instead the competition was marred by disqualifications and disputes. The quotation word can be best substituted with which of the following words?
"The prize competition was "touted"as a showcase for new technology, but instead the competition was marred by disqualifications and disputes." The underlined word can be best substituted with which of the following words?
Aside from many sellers and many buyers, which one is a characteristic of perfect competition?
Which of the following is NOT a characteristic of perfect competition?
Which of the following is not a feature of perfect competition?
“Under conditions of perfect competition, the price at which any given product will be supplied and purchased is the price that will result in the supply and the demand being equal.” This statement is known as the:
What is the opposite of perfect competition?
What is another term for “perfect competition”?
A ______ is a market situation where economies of scale are so significant that cost are only minimized when the entire output of an industry is supplied by a single producer so that the supply costs are lower under monopoly that under perfect competition.
What is the shape of the demand curve faced by a firm under perfect competition?