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Explain why perfect competition is a theoretical situation

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ysisisjennejsos ysisisjennejsos
  • 12-10-2021
Because there’s no such thing as perfect, nothing is perfect
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roshaneajones
roshaneajones roshaneajones
  • 12-10-2021

Answer:

Perfect competition is a theoretical situation because it does not reflect the real market as it is difficult to meet the criteria of perfect competition at a market which are as follows: 1- A large number of small firms are present and compete against each other. 2- All small firms produce identical products .

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