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The idea of perfect information is good for firms because they can make good decisions based on the information. However, perfect information doesn't exist.
Wiki User
∙ 9y ago
Wiki User
∙ 11y agobecause bussiness uses it to see if they should produce more or lee or shold they increase price or not
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The highest form of competition in economics called?
perfect competition
What use is the concept of perfect competition in business economics?
circular flow
What are the resources allocation under perfect competition?
In economics, perfect competition is a structure that allocates resources as efficiently as possible. When this happens, price and marginal cost are equal.
What is the Price elasticity of demand in each of the four market structures - perfect competition monopoly monopolistic competition and oligopoly?
Perfect competition is perfectly elastic (taken from my Economics textbook)...still searching on the other three.
Is housing property market perfect competition?
No. There is no such thing as a perfectly competitive market, as it is only used as a model in economics.
The highest form of competition in economics called?
perfect competition
Who has the exercise about fundation year economics such as the theory of the perfect competition and economics of the firm?
die
Explain in what way a perfect competition model is a useful analytical tool in economics?
the perfect model
What use is the concept of perfect competition in business economics?
circular flow
What are the resources allocation under perfect competition?
In economics, perfect competition is a structure that allocates resources as efficiently as possible. When this happens, price and marginal cost are equal.
What is the Price elasticity of demand in each of the four market structures perfect competition monopoly monopolistic competition and oligopoly?
Perfect competition is perfectly elastic (taken from my Economics textbook)...still searching on the other three.
What is the Price elasticity of demand in each of the four market structures - perfect competition monopoly monopolistic competition and oligopoly?
Perfect competition is perfectly elastic (taken from my Economics textbook)...still searching on the other three.
Is housing property market perfect competition?
No. There is no such thing as a perfectly competitive market, as it is only used as a model in economics.
What are importance of elasticity of demand in economics?
Importance of elasticity in economics
What is the Importance of labour economics?
five importance of labour economics
What is the importance of statistics in the field of economics?
importance of statistics in field of economics
Is IBM perfect competition?
IBM is a company, so it can't be a perfect competition. Only industries can be a perfect competition, or not.
