Perfect competition, Microeconomics

Perfect competition:

The behaviours of firms in perfect competition. It should be noted that firms that fit into perfect competition model are very rare in real-life situations. The closer examples are found mostly in agriculture and extractive industries. Nevertheless, the model of perfect competition provides a standard with which the actual performances of firms in certain segments of our economy can be compared.

Posted Date: 1/2/2013 11:53:52 PM | Location : United States

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