Implication of perfect knowledge
Describe the implication of perfect knowledge regarding market beneath perfect competition.
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Perfect knowledge signifies that both buyers and sellers are fully informed regarding market price. Thus no firm is in a place to charge a distinct price and no buyer will pay a high price. As an outcome a uniform price prevails in market.
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The percentage change within quantity supplied divided through the percentage change within price is an approx measure of a good's: (w) unitary margin. (x) price elasticity of supply. (y) exclusivity ratio. (z) price elasticity of demand. Discover Q & A Leading Solution Library Avail More Than 1455631 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads No hassle, Instant Access Start Discovering 18,76,764 1952414 Asked 3,689 Active Tutors 1455631 Questions Answered Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!! Submit Assignment
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