Why can most markets be described as reasonably competitive rather than perfectly competitive? Because the government is insufficiently active in achieving perfect competition. Because buyers don't have all of the information needed to make a completely rational decision. Because there are too many producers for the concept of perfect competitiveness. Because all producers create essentially the same product.

Why can most markets be described as reasonably competitive rather than perfectly competitive? Because the government is insufficiently active in achieving perfect competition. Because buyers don't have all of the information needed to make a completely rational decision. Because there are too many producers for the concept of perfect competitiveness. Because all producers create essentially the same product.