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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For Cournot’s Spring Water the demand is relatively price inelastic at: (i) point a. (ii) point b. (iii) point c (iv) point d. (v) point e. Discover Q & A Leading Solution Library Avail More Than 1420988 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads No hassle, Instant Access Start Discovering 18,76,764 1942056 Asked 3,689 Active Tutors 1420988 Questions Answered Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!! Submit Assignment
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