What is Perfect Competition?

Economics

Assumptions of Perfect Competition

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Assumptions of Perfect Competition

What is Perfect Competition? Perfect competition refers to a market situation in which there are a large number of buyers and sellers of homogeneous products. The price of the product is determined by industry with the forces of demand and supply. For instance, if we require a pen there should be several shops selling pens.

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Commerce / Economics

Perfect Competition: Features, Characteristics

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What is Perfect Competition

What is Perfect Competition? Perfect competition is an uncommon phenomenon in the real business world. However, the actual market that approximates the conditions of perfectly competitive models includes share markets, securities and bond markets and local vegetable markets and agricultural product markets etc. Although the form of market is an uncommon phenomenon, the perfectly competitive

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