Perfect Competition: Are Conditions More Favorable for Buyers or Sellers?
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Added on 2020-04-01
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Another advantage is that there may be maximum possible of consumer surplus and economic welfare.Consumer surplus is the situation where the price of consumer pays less than they are supposed to pay while economic welfare is the total benefit available to society from economic. ADD REPLY TO THIS ANSWER (MAKE FURTHER COMMENTS OR THOUGHTS) Noteworthy, perfect competition is the ideal market structure for any economy due to the significant benefits to both consumers and producers.
Perfect Competition: Are Conditions More Favorable for Buyers or Sellers?
Added on 2020-04-01
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