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Thaddeus Felle

"Fail to prepare, prepare to fail"

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Economics

Asked by Jann · 4 years ago

Why can there never be a perfect competition in markets?

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:... more

Thaddeus's profile picture

Thaddeus Felle

"Fail to prepare, prepare to fail"

391Students helped
1Questions answered
£22Per hour