Economy, asked by aadilkhan07, 4 months ago

what is advantages of perfect competition ? 3 marks

aadilkhan07: thanks

izmahashim: wlcm

Answers

Answered by fayaaz58

Answer:

you and me are perfect competition

Answered by izmahashim

Answer:

Because there is perfect knowledge, there is no information failure and knowledge is shared evenly between all participants. There are no barriers to entry, so existing firms cannot derive any monopoly power. Only normal profits made, so producers just cover their opportunity cost.

izmahashim: thnx

aadilkhan07: can i write in test copy

izmahashim: sure

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