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Even the most pro free market economic theories have the core assumption that the free market only leads to efficient pricing under a set of core assumptions.
by the_duke 2y ago
Even the most pro free market economic theories have the core assumption that the free market only leads to efficient pricing under a set of core assumptions.
These include low barriers to entry, strong competition, perfect elasticity on both the consumer and producer side, and no mono/duo/oligopolies that prevent those from working correctly.
This is a classic oligopoly where the free market does in fact not work to find the "natural" price.