What are the characteristics of perfect competition?

Homogeneous goods, Firms are price takers, An infinite number of suppliers and producers, Firms are profit maximisers, There are no barriers to entry, Producers have perfect information

IA
Answered by Irenitemi A. Economics tutor

1704 Views

See similar Economics A Level tutors

Related Economics A Level answers

All answers ▸

Explain the effects of increased Tariffs on goods from the UK


Why does the Price Mechanism exist and what are the functions of it?


Discuss the macroeconomic impacts of deflation on an economy.


What is the impact of a price ceiling on a market equilibrium?


We're here to help

contact us iconContact ustelephone icon+44 (0) 203 773 6020
Facebook logoInstagram logoLinkedIn logo

© MyTutorWeb Ltd 2013–2025

Terms & Conditions|Privacy Policy
Cookie Preferences