Why private goods are produced through the market
Why private goods are produced through the market?
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Private goods are produced through the market because they are divisible and come in units small enough to be afforded by individual buyers. Idea that is unable or unwilling to pay is excluded from benefits of the product where private goods are subject to the exclusion principle.
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Perfect competition is characterized by all of the following except w) heavy advertising by individual sellers. x) homogeneous products. y) sellers are price takers. z) a horizontal demand curve for individual sellers. Discover Q & A Leading Solution Library Avail More Than 1443512 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads No hassle, Instant Access Start Discovering 18,76,764 1931671 Asked 3,689 Active Tutors 1443512 Questions Answered Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!! Submit Assignment
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