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

1684 Views

See similar Economics A Level tutors

Related Economics A Level answers

All answers ▸

Analyse how barrier to entry determine the degree of competition in the British transport market.


What is Pareto efficiency?


What is consumer and producer surplus?


Choose an example of a demerit good and and a policy which may be used by the UK Government to help reduce its consumption


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