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20 November, 22:45

Why are there actually relatively few markets in which there is perfect compeition

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  1. 20 November, 22:55
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    Answer:One reason so few markets are perfectly competitive is that minimum efficient scales are so high that eventually the market can support only a few sellers.

    Explanation:Although the contestable market model suggests that this factor alone does not preclude aggressive price competition between sellers, in most cases there is not really free entry for new firms.
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