3 ms·
Definition of a "perfect" market, first line: "All firms sell an identical product" Seems one of those cases where perfect doesn't mean anything like "good".
by Udik 5y ago
Definition of a "perfect" market, first line:
"All firms sell an identical product"
Seems one of those cases where perfect doesn't mean anything like "good". It's entirely irrelevant to the case at point.
- insert_coin 5y agoIt is the whole point. By "definition", if it's being bought in a "perfect-free-market" it is only because it's been deemed good enough.