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No. There is no perfectly competitive market in real life.
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∙ 13y ago
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Which market situations in an industry results in the lowest prices for consumers?
perfect competition
What kind of market structure is the coffee industry?
My views are very much depend which focus area that you intend to discuss; 1) Coffee Plantation Industry is perfect competition 2) Coffee Retail Industry is Monopolistic Competition
Is bottled water considered a perfect competition?
Perfect competition to what. Please be specific.
Does perfect competition exist?
No, Perfect Competition is just an imaginary one and it does not exist at all.
Price determination in perfect competition?
Price under perfect competition is determined by the forces of demand and supply of the industry. The price once fixed up by the industry is taken up by all the firms and the firm can sell any number of units at hat price.=The firm may earn normal profits, super normal profits in the short run whereas it earns normal profits in the long run.=
Which of these market situations in an industry results in the lowest prices for consumers?
perfect competition
Which market situations in an industry results in the lowest prices for consumers?
perfect competition
What kind of market structure is the coffee industry?
My views are very much depend which focus area that you intend to discuss; 1) Coffee Plantation Industry is perfect competition 2) Coffee Retail Industry is Monopolistic Competition
Firm or industry that does not have perfect competition?
Tons of industries lack perfect competition. Automakers, beverage bottlers, film-making, personal computer manufacturing, retailing, any utility industry (ie: gas, electric, water), high-speed internet access... the list goes on and on.
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.
When a industry or business has no competition?
A monopoly is an industry or business having no competition.
Is bottled water considered a perfect competition?
Perfect competition to what. Please be specific.
Does perfect competition exist?
No, Perfect Competition is just an imaginary one and it does not exist at all.
Allowing competition in the power industry?
Baseload plants allow competition in the power industry.
Price determination in perfect competition?
Price under perfect competition is determined by the forces of demand and supply of the industry. The price once fixed up by the industry is taken up by all the firms and the firm can sell any number of units at hat price.=The firm may earn normal profits, super normal profits in the short run whereas it earns normal profits in the long run.=
What are the requirements for perfect competition?
Perfect knowledge of market - buyers' and sellers' sides Many buyers and sellers Sellers are passive price takers Free entry and exit for the industry Homogenous product
What is the structure in a pure competition?
If you are referring to a "perfect competition"- you could define it as the most extreme type of competition, with many buyers . So, there are many companies selling the exact same product, without a restriction on new companies entering into the industry. If your sales accounted for in the industry are low (using percentage), you have a higher competition. On the contrary, if you have say 98% of sales in the industry you are monopolistic in competition. Examples of competitive industries would be clothing and textiles. Just for thought-There are many companies that sell these items.
