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    Perfect competition

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    How do perfectly competitive markets respond to economic losses for firms?

    © BrainMass Inc. brainmass.com October 9, 2019, 3:57 pm ad1c9bdddf
    https://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 ...

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    Perfect competition is explored.

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