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Civil Engineering · Q91

Engineering Economics

Engineering and GATE · Civil Engineering · question 91

Q91

What refers to the market situation in which any given product is supplied by a very large number of vendors and there is no restriction against additional vendors from entering the market?

A.
Perfect competition
Answer
B.
Oligopoly
C.
Oligopsony
D.
Monopoly

Answer: Option A

Solution

Answer: Option A
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