In the perfectly competitive model,all firms are assumed to be producing:

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In a perfectly competitive market, all firms are assumed to be producing identical products, meaning the products are perfect substitutes for each other. This is a crucial assumption, as it forms the basis for the other assumptions of the model, such as the ability of consumers to switch from one firm's product to another without incurring any costs or experiencing any differences in quality.

In the Perfectly Competitive Model,all Firms Are Assumed to Be