Why can there never be a perfect competition in markets?
VERIFIED
Thaddeus Felle
"Fail to prepare, prepare to fail"
The characteristics of Perfect Competition in reality can never be fulfilled e.g. All the goods must be completely homogeneous-It is practicably impossible that you will find a market in which there is no differentiation at all. Or take the characteristic that there must be perfect knowledge of the product by both seller and buyer. Definitely check out this link for a clear in-depth explanation: https://www.investopedia.com/ask/answers/05/perfectcompetition.asp
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