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

Answered by Irenitemi A. Economics tutor

1136 Views

See similar Economics A Level tutors

Related Economics A Level answers

All answers ▸

What is market failure?


What is the "Tragedy of the Commons" and how may it be solved?


Do the benefits of protectionist trade policies outweigh the costs?


How to answer elasticity questions


We're here to help

contact us iconContact usWhatsapp logoMessage us on Whatsapptelephone icon+44 (0) 203 773 6020
Facebook logoInstagram logoLinkedIn logo

© MyTutorWeb Ltd 2013–2024

Terms & Conditions|Privacy Policy