Under perfect competition, firms do not engage in price-war because ———

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Question:Under perfect competition, firms do not engage in price-war because ———

1.firms work in co-operation with one another under the same.

2.number of firms under the same is very large

3.the demand for the product of a firm under the same is perfectly elastic

4. all the above-mentioned conditions are responsible

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  1. Under perfect competition, firms do not engage in price-war because ———
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