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Perfect competition and why it mattersKey points A perfectly competitive firm is a price taker, which means that it must accept the equilibrium price at which it sells goods. If a perfectly competitive firm attempts to charge even a tiny amount more than the market price, it will be unable to make any sales. Perfect competition occurs when there are many sellers, there is easy entry and exiting of...0 Commentarii 0 Distribuiri 5K Views 0 previzualizare
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Perfect competition and why it mattersKey points A perfectly competitive firm is a price taker, which means that it must accept the equilibrium price at which it sells goods. If a perfectly competitive firm attempts to charge even a tiny amount more than the market price, it will be unable to make any sales. Perfect competition occurs when there are many sellers, there is easy entry and exiting of...0 Commentarii 0 Distribuiri 5K Views 0 previzualizare