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Why is perfect competition often described as the ideal market structure? Compare and contrast with other known market structures.

Essay specific features

 

Issue:

Business

 

Written by:

Mary G

 

Date added:

March 24, 2015

 

Level:

University

 

Grade:

A

 

No of pages / words:

7 / 1877

 

Was viewed:

4213 times

 

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Essay content:

Therefore, productive efficiency is achieved at the lowest point on a firm’s long-run avarage total cost curve. In other words, costs per unit of production in the long run are as low as technically possible’. Allocative efficiency can be achieved under one condition.‘To achieve allocative efficiency it should not be posssible to make someone better off by a reallocation of the resources without, at the same time, making someone worse off...
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The most common distinctions are: the number of producers on the market, the level of differentation of the product, access to that market and the possibilities of leaving it for new entrants, as well as the extent to which a company can affect the price for which it sells its output. After applying these criteria, we can divide market structures into: perfect competition, monopolistic competition, oligopoly and monopoly...
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General issues of this essay:
Compare and contrast the models of perfect competition and monopoly Differentiating between Market Structures Four market structures Market Structures Market Structures Market Structures Market Structures Market Structures Markets And Market Structures Perfect Competition Market model The Advantages And Disadvantages Of Free Market Economy, Price Determination With Market Forces. And Government Intervention With Free Market Equilibrium Price And The More Suitable Model For The Sudan Why is perfect competition often described as the ideal market structure? Compare and contrast with other known market structures. Market Structures Compare And Contrast The Basic Assumptions And Methodologies Of The Co Market Structures
 

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