Perfect Competition - Free Essay Examples and Topic Ideas

Perfect competition is a market structure characterized by a large number of buyers and sellers, homogeneous products, and ease of entry and exit into the market. In perfect competition, no single buyer or seller has control over the market price, and all participants have access to the same information. This ensures that market forces of supply and demand determine the equilibrium price and quantity of goods exchanged. Perfect competition is often used as a benchmark to compare other market structures such as monopolistic competition, oligopoly, and monopoly.

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