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Perfect and Monopoly Markets and their difference
CHARACTERISTICS OF PERFECT COMPETITION
1.Firms are small and plenty in number: - In perfect competition there are a large number of firms in the market. Each of them is very small as compared to the whole industry. Individually, none of them is even near to fulfilling the demand of the whole industry.
2.Homogenous products: - All firms produce/provide identical products/services. Thus it makes no difference to the buyer which seller's product he buys.
3.Perfect information: - All sellers and buyers know the prices at which all the transactions take place and what the possible alternativ…
- Explain fully why it is essential for organisations to continually train and develop their employees. How can the benefits you describe be measured?
- Perfect and Monopoly Markets and their difference
- The Importance of Organizational Behavior and its Affect on the Company. Discuss how the study and practice of organizational behavior can make a difference, if any, in the operation of a business.
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