n insufficient profits for investmentn (ii) lack of product varietyn (iii) lack of competition over product design and specificationn (iv) unequal distribution of goods & incomen (v) externalities e.g. pollution
variety is limited since ferms produces similer products
Perfect competition to what. Please be specific.
Advantages of perfect competition i) optimal allocation of resources (ii) competition encourages efficiency (iii) consumers charged a lower price (iv) responsive to consumer wishes: Change in demand, leads extra supply Disadvantages (i) insufficient profits for investment (ii) lack of product variety (iii) lack of competition over product design and specification (iv) unequal distribution of goods & income (v) externalities e.g. Pollution
No, Perfect Competition is just an imaginary one and it does not exist at all.
Perfect Competition
variety is limited since ferms produces similer products
IBM is a company, so it can't be a perfect competition. Only industries can be a perfect competition, or not.
Its perfect therew are no disadvantages Its perfect therew are no disadvantages
Perfect competition to what. Please be specific.
Advantages of perfect competition i) optimal allocation of resources (ii) competition encourages efficiency (iii) consumers charged a lower price (iv) responsive to consumer wishes: Change in demand, leads extra supply Disadvantages (i) insufficient profits for investment (ii) lack of product variety (iii) lack of competition over product design and specification (iv) unequal distribution of goods & income (v) externalities e.g. Pollution
No, Perfect Competition is just an imaginary one and it does not exist at all.
Perfect Competition
Perfect Competition, Monopoly, Monopolistic Competition or Oligopoly
Perfect competion lowers the cost of good and services by increasing the competition among firms.
they maximize profit
perfect competition
The market concentration ratio for perfect competition is Low (Less than 40%).