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Perfect competition:

The behaviours of firms in perfect competition. It should be noted that firms that fit into perfect competition model are very rare in real-life situations. The closer examples are found mostly in agriculture and extractive industries. Nevertheless, the model of perfect competition provides a standard with which the actual performances of firms in certain segments of our economy can be compared.

Microeconomics, Economics

  • Category:- Microeconomics
  • Reference No.:- M9517075

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