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Goods sold in perfectly competitive markets are generally

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Economics JAMB 2017

Goods sold in perfectly competitive markets are generally

  • homogenous checkmark
  • intermediate and final
  • durable and non-durable
  • heterogeneous

The correct answer is: A

Explanation

The goods bought and sold in a perfect market must be homogeneous. That is, they must be identical. They must be of same size, shape, weight, colour etc. The goods must be the same in the eye of the customer.
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