MICROECONOMICS
MICROECONOMICS
11th Edition
ISBN: 9781266686764
Author: Colander
Publisher: MCG
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Chapter 13.1, Problem 1Q
To determine

The importance of assumption of no barriers to entry in perfect competition.

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These two cases provide examples of markets that are characterized neither as perfect competition nor monopoly. Instead, these firms are competing in market structures that lie between the extremes of monopoly and perfect competition. How do they behave? Why do they exist?
Are there barriers to entry in a Perfect Competition market? Explain in detail.
Many economists would argue that there is no such thing as perfect competition in the real world. What limitations to that theory would support their argument?
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