Question

Conclusion on perfect competition?

Answer 1

Perfect compition market consist of perfect knowledge of every thing. It's no Information failure and no behaviour in perfectly competitive market.

Answer 2

A perfect competition is the market structure where many sellers and buyers are available, as well as all are successfully engaged in selling and buying of homogeneous products at a solo cost prevailing in this market.

The perfect competition is otherwise called as pure competition.  

It presents when no direct competition among the rivals as well as all sell similar the similar products at a solo cost.