Assumption of market structure in perfect competition
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Perfect Competition (With 7Assumptions) ... Perfect competitionis a market structure characterised by a complete absence of rivalry among the individual firms. Thus perfect competition in economic theory has a meaning diametrically opposite to the everyday use of this term.
Perfect Competition (With 7Assumptions) ... Perfect competitionis a market structure characterised by a complete absence of rivalry among the individual firms. Thus perfect competition in economic theory has a meaning diametrically opposite to the everyday use of this term.
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