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Disadvantages of perfect competition?
variety is limited since ferms produces similer products
Advantages and disadvantages of Perfect competition market structure?
Advantages of perfect competition i) optimal allocation of resources (ii) competition encourages efficiency (iii) consumers charged a lower price (iv) responsive to consumer wishes: Change in demand, leads extra supply Disadvantages (i) insufficient profits for investment (ii) lack of product variety (iii) lack of competition over product design and specification (iv) unequal distribution of goods & income (v) externalities e.g. Pollution
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.
What is the market structure with the most competition?
Perfect Competition
Disadvantages of perfect competition?
variety is limited since ferms produces similer products
What are the disadvantages of..leather?
Its perfect therew are no disadvantages Its perfect therew are no disadvantages
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.
Is bottled water considered a perfect competition?
Perfect competition to what. Please be specific.
Advantages and disadvantages of Perfect competition market structure?
Advantages of perfect competition i) optimal allocation of resources (ii) competition encourages efficiency (iii) consumers charged a lower price (iv) responsive to consumer wishes: Change in demand, leads extra supply Disadvantages (i) insufficient profits for investment (ii) lack of product variety (iii) lack of competition over product design and specification (iv) unequal distribution of goods & income (v) externalities e.g. Pollution
Does perfect competition exist?
No, Perfect Competition is just an imaginary one and it does not exist at all.
What are the advantage and disadvantages of perfect competition and monopoly?
In perfect competition, advantages include efficient resource allocation, lower prices for consumers, and a wide variety of choices due to many firms competing. However, disadvantages include minimal profits for producers, which can stifle innovation and lead to less investment in quality improvements. In contrast, a monopoly can benefit from economies of scale, potentially leading to lower production costs and innovation driven by high profits. However, disadvantages include higher prices for consumers, reduced choices, and potential inefficiencies due to lack of competition.
What is the market structure with the most competition?
Perfect Competition
What does perfect competition do?
Perfect competion lowers the cost of good and services by increasing the competition among firms.
Types of Market Competition?
Perfect Competition, Monopoly, Monopolistic Competition or Oligopoly
The highest form of competition in economics called?
perfect competition
What does monopolistic competition and perfect competition have in common?
they maximize profit
