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?

Academy of PakistanTest & Learning

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Academy of PakistanTest & Learning

804Active Users

318Civil EngineeringMedium

AOligopoly

BOligopsony

CMonopoly

DPerfect competition

Correct answer

D. Perfect competition

Explanation

The correct answer is Perfect competition.

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? - Answer and Explanation | Academy of Pakistan