In a perfectly competitive market, buyers are completely aware of the asking prices of sellers but sellers are unaware of the bids placed by buyers.

Name: In a perfectly competitive market, buyers are completely aware of the asking prices of sellers but sellers are unaware of the bids placed by buyers.
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Question

Quizplus · Accepted Answer

In a perfectly competitive market, both buyers and sellers have perfect information about prices, meaning both are aware of the asking prices and bids.

In a Perfectly Competitive Market, Buyers Are Completely Aware of the Asking