MicroEconomic

Strictly speaking, perfect competition has never existed and probably never will. Then why study it?

asked by JT

Respond to this Question

First Name

Your Answer

Similar Questions

  1. microeconomics

    Strictly speaking, perfect competition has never existed and probably never will. Then why study it? Discuss the major barriers to entering into an industry. Explain how each barrier can foster either monolopy or oligopoly. which
  2. microeconomics - monopoly vs perfect competition

    hi, can sum1 help me? wats difference between monopoly and perfect competition? one is a solely dominated market and the other is a market with many producers 1)The monopolist is the price-maker. But the firm i under aperfect
  3. Economics

    Among monopoly, oligopoly, Monopolistic competition, and perfect competition, how would you classify the markets for each of the following drinks? a. tap water b. bottled water c. cola d. beer I think it would be... a. Monopoly b.
  4. economics

    Perfect competition is described at its 1. worst 2. most efficient 3. totally outdated in understanding real economic world or 4. both 1 and 2. Who is describing perfect competition?
  5. Check

    13. Giganeers faces competition from many other companies that also provide engineering consulting services. In order to gain more business, Gig has tried to convince potential clients that his company offers better service than
  6. perfect competition

    If all the assumptions of perfect competition hold, why would firms in such an industry have little incentive to carry out technological change or much research and development? What condition would encourage research and
  7. Microeconomics

    "In both monopoly and perfect competition the profit maximising output is at the level at which MR = MC, but only in the latter is the optimum output level such that P = MC" Explain the above statement by comparing the model of
  8. Microeconomics :o)

    "In both monopoly and perfect competition the profit maximising output is at the level at which MR = MC, but only in the latter is the optimum output level such that P = MC" Explain the above statement by comparing the model of
  9. Public speaking

    Public speaking has been formally studied since: A. the 5th century. B. the 20th century. C. recently. D. communication courses were offered at universities. is it B 2. Early study of public speaking was known as: A. public
  10. Economics

    Heres one IM SURE economist will enjoy... Always saying MC = MR :) Please help... I know its something to do with Perfectly competitive firms being price takers! right?? Question: “In both monopoly and perfect competition the

More Similar Questions