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Does Walmart have the characteristics of a firm in pure competition?
Wiki User
∙ 15y ago
Wal-Mart is almost certainly not an example of pure competition. Pure competition is characterized by a very large number of sellers - each with an almost infinitesimally small market share - selling a non-differentiated product. Wal-Mart's market share is immense (as you stated) and they differentiate their product through branding measures that include everyday low prices, convenient hours, etc. There can be tough competition in every market structure (except monopoly) but that does not mean that the market meets the definition of pure competition.
Wiki User
∙ 15y ago
Wiki User
∙ 11y agothey change their business model, usually their business model is a strong one, but if someone comes out stronger, Wal Mart adapts and that's what separates them from the mom and pops that do not adapt and change their business model.. if anything Wal Marts would increase traffic to that area which should increase traffic to mom and pop shops.. near where I live a wal mart paved the way for a strip mall and a Home Depot.. some of the stores in the strip mall are locally owned and are doing well.
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I need an answer what are 5 characteristics of pure competition?
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