Question

distinguish between pure competition and perfect competition​

Answer 1

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❏The American economists attach great importance to pure competition whereas the English economists emphasize perfect competition.

❏The difference between the two is one of degree and not of kind. The demand curve facing a firm under pure and perfect competition is a horizontal straight line.

Answer 2

Answer:

Pure competition and perfect competition are almost same. But there are a few differences between them.Pure competition is less restrictive whereas Perfect competition is more restrictive. Pure competition is a variants of perfect competition whereas Perfect competition is a additional version of pure competition