producers charge the competitive and efficient level of prices, then price and output in the market would be: Group of answer choices $4 and 4000 $2 and 4000 $4 and 2000 $2 and 2000

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Perfect Competition

It is the structure of the market that is said to exist when with many buyers and sellers exchanging similar commodities and its price is fixed by the market forces, demand, and supply, and a single firm cannot cause an impact over the price or market value of the homogenous product. This structure of the market is called perfect competition.