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There is no such thing as a perfectly competitive market. It is merely a economic model to compare other market structures to. Cigarette market is more likely a oligopoly.
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∙ 14y ago
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How are prices set in a perfectly competitive market?
By Market Force
Is the used car market perfectly competitive?
no
What are the example of short period local perfectly competitive market?
poultry market rice market
Is stock exchange an example of perfectly competitive market?
Yes
Does a perfectly competitive market demonstrate the need for subsidies and price ceilings?
no
How are prices set in a perfectly competitive market?
By Market Force
Is the used car market perfectly competitive?
no
Do perfectly competitive firms advertise?
Perfectly competitive firms would not advertise as advertising would serve no purpose. A market that is perfectly competitive exists only in theory.
What are the example of short period local perfectly competitive market?
poultry market rice market
Is stock exchange an example of perfectly competitive market?
Yes
In a perfectly competitive market an increase in demand will in the long run generally cause?
An increase in demand in a perfectly competitive market will lead to an increase in revenue for the business. The more they sell the more they will make.
Does a perfectly competitive market demonstrate the need for subsidies and price ceilings?
no
Characteristics of perfect competitive market?
A perfectly competitive market has many competitors. There is no one competitor that has more say in product prices within the industry.
In a perfectly competitive market, individual consumers have _____.?
no influence over determining price
In a perfectly competitive market individual consumers have .?
no influence over determining price
Is peanut industry perfect competition?
No. There is no perfectly competitive market in real life.
Which market in the economy of Mauritius come closest to being perfectly competitive?
monopoly
