Boots tries to distinguish itself from others and thinks ahaed of competition.
In imperfect competition the producer is the price maker whereas in perfect the producer is the price taker. In imperfect no new competitors enter the industries hence super normal profits will continue to be realised, unlike in perfect comp
Imperfect competition is viewed by economists as undesirable because it is thought it places unnecessary and unwelcome constraints on the natural economic forces. An example of imperfect competition is a monopoly.
Imperfect competition is viewed by economists as undesirable because it is thought it places unnecessary and unwelcome constraints on the natural economic forces. An example of imperfect competition is a monopoly.
Economists regard imperfect competition because it allows firms to be less efficient producers.
Imperfect competition differs from perfect competition in several ways. In imperfect competition, there are fewer sellers, products may be differentiated, and firms have some control over prices. In contrast, perfect competition has many sellers offering identical products, with no control over prices.
In imperfect competition the producer is the price maker whereas in perfect the producer is the price taker. In imperfect no new competitors enter the industries hence super normal profits will continue to be realised, unlike in perfect comp
Imperfect competition is a competitive market situation where there are many sellers, but they are selling dissimilar goods. There are four types of imperfect markets, one is a monopoly, an oligopoly, a monopolistic competition, and a monopsony.
Imperfect competition is viewed by economists as undesirable because it is thought it places unnecessary and unwelcome constraints on the natural economic forces. An example of imperfect competition is a monopoly.
Imperfect competition is viewed by economists as undesirable because it is thought it places unnecessary and unwelcome constraints on the natural economic forces. An example of imperfect competition is a monopoly.
Economists regard imperfect competition because it allows firms to be less efficient producers.
Imperfect competition differs from perfect competition in several ways. In imperfect competition, there are fewer sellers, products may be differentiated, and firms have some control over prices. In contrast, perfect competition has many sellers offering identical products, with no control over prices.
In imperfect competition the producer is the price maker. Whereas in perfect the producer is the price taker meaning there are many producers and no one can influence the price.
Economists regard imperfect competition as undesirable because it does not have the efficiency they would need to study an economy. An imperfect competition has large companies that dominate the economy and thus creating an imbalance.
Monopoly, Oligopoly, and monopolistic competition.
In perfect competition, there are many buyers and sellers, products are identical, and there are no barriers to entry. In imperfect competition, there are fewer sellers, products may be differentiated, and there may be barriers to entry.
Imperfect competition differs from perfect competition in market structure and pricing dynamics. In imperfect competition, there are fewer sellers and barriers to entry, allowing firms to have some control over prices. This leads to higher prices and potentially lower quantities produced compared to perfect competition, where there are many sellers and prices are determined by market forces.
imperfect competition market