Which of the following statement is true about perfect competition ........

Economics (CUET) Theory of firm under perfect Competition

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Which of the following statement is true about perfect competition?

There is no mobility of factors of production

There is a presence of transportation cost

There is no selling cost

There is no uniform price

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Explanation:

Option (3) is correct.
Explanation: Selling cost is the cost incurred on advertisement of goods. Selling cost is zero in case of perfect competition because of perfect knowledge of buyers and sellers.
Because products are homogeneous and they are perfect substitutes of each other.