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Sellers offer a wide variety of products

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MeGustaCulo

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5y ago

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Related Questions

What is the condition to get maximum profit of a firm in perfect competition?

Mr=mc


In which of the following market structures do firms produce the welfare-maximizing level of output?

Perfect competition!


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.


What is monopolistic competition and perfect competition?

Three conditions characterize a monopolistic & Perfectly competitive market. First, the market has many firms, none of which is large. Second, there is free entry and exit into the market; there are no barriers to entry or exit. Third, each firm in the market produces a differentiated product. This last condition is what distinguishes monopolistic competition from perfect competition. In perfect competition in addition to the prior two characteristics the firms produces similar products.


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


Types of Market Competition?

Perfect Competition, Monopoly, Monopolistic Competition or Oligopoly


What does perfect competition do?

Perfect competion lowers the cost of good and services by increasing the competition among firms.


The highest form of competition in economics called?

perfect competition


What does monopolistic competition and perfect competition have in common?

they maximize profit


In what ways does imperfect competition differ from perfect competition?

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.