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Perfect Competition
It's a market where conditions prevail like that buyers and suppliers are without the ability to manipulate price in any significant way such that the market dynamics are determined almost completely through the forces of supply and demand.
EXCEPTIONAL SUPPLY
Example of a cost function
Perfectly Competitive Markets * Characteristics of Perfectly Competitive Markets 1. Price taking 2. Product homogeneity 3. Free entry and exit * Price Taking
under which market structure does the banking sector fall?
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MONOPOLISTIC MARKET
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