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Q: Explain what so special about perfect competition
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Q: Comparison between Pure competition and the perfect competition in market structure of the economy?
A:
Q: What does perfect competition mean and what are the concepts of it?
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Which 'Economies of Scale' creates imperfect competition and Why?
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- In 175 words describe the following: Scale Economies, Imperfect Competition, and TradeFamily Mart like inner city grocery stores, sometimes exist even though they do not earn economic profits. How can you explain this? It is clear that businesses operate in the short run, but do they ever operate in the long run? Discuss. What are the different type of costs incurred in the short run and in the long run?what are the inefficiencies of an imperfect competition ? what are the benefits of having a increasing competition accross varies sectors?