Title: Why is perfect competition often described as the ideal market structure? - Quora
Headings: Why is perfect competition often described as the ideal market structure?
Why is perfect competition often described as the ideal market structure?
Alphons Ranner

Content: Answered 3 years ago · Author has 3.8K answers and 3.9M answer views
The motive is to give government regulators a rational justification to intervene in markets in order to make them free. Perfect competition is a model of the economy that sets up an unrealistic set of conditions, including undifferentiated goods, a large number of small firms, equal conditions of production and equal production costs. Because no market could possibly meet these artificial conditions, any excuse can be made for government regulation to intervene, to knock down any superior competitor, in order to make markets "free". In reality, the only condition needed to make a market free is
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The motive is to give government regulators a rational justification to intervene in markets in order to make them free. Perfect competition is a model of the economy that sets up an unrealistic set of conditions, including undifferentiated goods, a large number of small firms, equal conditions of production and equal production costs. Because no market could possibly meet these artificial conditions, any excuse can be made for government regulation to intervene, to knock down any superior competitor, in order to make markets "free". In reality, the only condition needed to make a market free is respect for property rights and thus non-intervention by the government. Any attempt to impose the conditions of perfect competition would in reality suppress competition and the benefits we seek from competition. What we want from competition is a better supply of better quality goods at lower prices. Any business that is able to provide this better than others will necessarily grow larger than all the others.