Does perfect competition exist

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Does Perfect Competition Exist?

Using the three characteristics of a perfectly competitive market- firms are price takers, all firms produce a homogeneous or perfectly standardized commodity, and entry and exit are unrestricted. Analyze the market in which a company of your choice operates. Address each characteristic. Does it meet these requirements? If so, how? If not, why not?

Hint: Keep in mind the title of the Discuss question. That should be a clue to how you will answer about your firm.

Reference no: EM131236617

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