When more firms produce the same product the same product, it means that the quality of that product is produced at the same quality.
A marketing state of affairs in which there are a massive wide variety of sellers of a product which cannot be differentiated and, consequently, no person company has a sizeable effect on the charge. Different prevailing conditions are ease of entry of the latest companies into the market and perfect marketplace information.
Pure competition is normally called perfect competition and is usually described through many competing firms that promote comparable merchandise. inside natural competition, every company holds a fantastically identical proportion, with new competition being capable of easily entering the marketplace.
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