A perfectly competitive market has following features:
(i) Market consists of large number of buyers and sellers
(ii) All firms produce homogeneous goods
(iii) Each buyer and seller is a price-taker
Choose the correct option -
1
(i) and (ii)
2
Only (i)
3
(ii) and (iii)
4
All (i), (ii) and (iii)
5
Not Attempted