Title: What is the difference between pure and perfect competition? - Quora
Headings: What is the difference between pure and perfect competition?
What is the difference between pure and perfect competition?
Content: This makes it easy for power seekers and others in public office to find fault with the real world as it is and to make excuses for them to take control and manipulate markets for their own purposes. It gives regulators arbitrary power to intervene to break up efficient businesses or prevent mergers which would increase efficiency. Perfect Competition
"Pure or perfect competition is a theoretical market structure in which the following criteri
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Perfect competition is a hypothetical, abstract concept of how markets ought to work in order to be efficient, one that is impossible in the real world. This makes it easy for power seekers and others in public office to find fault with the real world as it is and to make excuses for them to take control and manipulate markets for their own purposes. It gives regulators arbitrary power to intervene to break up efficient businesses or prevent mergers which would increase efficiency. Perfect Competition
"Pure or perfect competition is a theoretical market structure in which the following criteria are met: all firms sell an identical product (the product is a "commodity" or "homogeneous"); all firms are price takers (they cannot influence the market price of their product); market share has no influence on price; buyers have complete or "perfect" information – in the past, present and future – about the product being sold and the prices charged by each firm;