Question

Describe the perfect market form the supplier and customer's perpestive

Answer 1

A perfect market from the supplier’s perspective is one without substitutes or competitions. They basically “own the market” making it difficult for new competitors to enter. Customers and suppliers do NOT influence pricing. A consumer’s perfect market is the literal opposite.The perfect market from the customer’s perspective is one in which there is a lot of competition resulting in pure price competition and available substitutes. 
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