Unit 2.11(2) Market power - Perfect competition(HL)

IB Economics: Unit 2.11(2) Market power - Perfect competition(HL)

Perfect competition is a theoretical model of how a market behaves under the conditions of the purest form of competition. There are no examples of pure perfect competition but the characteristics of perfect competition can be observed in agricultural markets where the industry is made up of large numbers of small producers.Perfect competition is a theoretical model of how a market behaves under the conditions of the...

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