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Unit 2.11(2) Market power - Perfect competition(HL)

Perfect competition is a theoretical model of how a market behaves under the purest form of competition. There are no examples of pure perfect competition, but the characteristics of perfect competition can be observed in agricultural markets, where the industry is composed of a large number of small producers. Evaluation of perfect competition The link to the attached PDF is revision material from Unit 2.11(2)...

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