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How does the proliferation of global trade and competition contribute to markets moving more away from market-possessing power to the more perfect competition?

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Darryn D'Souza
Darryn D'SouzaLv10
28 Sep 2019

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Related questions

After learning about both the perfect competition model and more about real-world markets, which of these statements rings true?

a) Both real-world markets and the perfect competition model constantly obtain productive and allocative efficiencies

b) Real-world markets consistently produce at the minimum of average cost and equal to marginal cost, and the perfect competition model portrays and extremely of real-world markets

c) Real-world market firms are inconsistent with attaining productive or allocative efficiency while the perfect competition model, in the long run, is mostly a hypothetical benchmark

A business with market power will typically:

a. be more innovative than firms in perfect competition.

b. force employees to work harder and longer.

c. create new markets due to competitive forces.

d. have lower productivity.

Ā 

Banana is a perfect example of perfect competition. What are some characteristics of perfect competition? How can companies in the market competition? Can you name some other examples of perfect competition? Please answer in a paragraph or more. PLEASE DO NOT POST IMAGES FROM WORD OR ANY OTHER SOFTWARE.

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