Perfect competition
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How do perfectly competitive markets respond to economic losses for firms?
© BrainMass Inc. brainmass.com December 24, 2021, 4:57 pm ad1c9bdddfhttps://brainmass.com/economics/perfect-competition/perfect-competition-18111
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Perfect competition arises when:
<br>- There are many firms, each selling an identical product.
<br>- There are many buyers.
<br>- There are no restrictions on entry into the industry.
<br>- Firms in the industry have no advantage over potential ...
Solution Summary
Perfect competition is explored.
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