ECON WK 4 DISCUSSION

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"Perfect Competition"

Firms like Walmart, Target, and Kmart are often given as examples of competitors. Ironically, these firms are not what an economist would define as perfectly competitive firms.

  • Why are these firms not perfectly competitive?
  • What are the conditions that create perfect competition?
  • Name or describe an example of a perfectly competitive good or firm.
    • 8 years ago
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