Content-Type: text/html Wikipedia: Perfect competition

[Home]Perfect competition

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A market is said to be one with perfect competition if:
  1. There is a large number of small producers and consumers on a given market
  2. None of the parties can influence the price on his own
  3. The price is given
  4. Goods and services are [perfect substitutes]? - they are homogeneous
  5. All resources (including information) are perfectly mobile
  6. Transaction costs are naught.

Other market forms
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Last edited March 11, 2001 12:23 pm (diff)
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