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New page: Perfect competition is so much competition that a seller would lose all its customers if it raised its price a tiny amount. This large amount of competition is "perfect" for the consumer....
Perfect competition is so much competition that a seller would lose all its customers if it raised its price a tiny amount. This large amount of competition is "perfect" for the consumer.
The market for dairy products is close to perfect competition.
The market for dairy products is close to perfect competition.