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What are the distinctive features of the perfectly competitive model of the market for goods and services? What are the implications for a business strategy aimed at enhancing profitability?

Essay specific features

 

Issue:

Business

 

Written by:

Renee M

 

Date added:

April 30, 2014

 

Level:

University

 

Grade:

A

 

No of pages / words:

7 / 1914

 

Was viewed:

347 times

 

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Essay content:

the prices and wages are determined by the market and the firm is so small relative to the size of the market that they can have no influence over the market price. For a market to be perfectly competitive there are certain conditions that have to be met. The first set of conditions for perfect competition applies to the market structure...
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For a market to be perfectly competitive there are certain conditions that have to be met. The first set of conditions for perfect competition applies to the market structure. There are many small buyers and firms (suppliers), where none have an influence over the market price as they are small relative to the market as a whole...
displayed 300 characters

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