In imperfect competition the producer is the price maker. Whereas in perfect the producer is the price taker meaning there are many producers and no one can influence the price.
the difference between perfect and imperfect oligopoly
What is the difference between perfect competition and pure monopoly
Product differentiation
In imperfect competition the producer is the price maker whereas in perfect the producer is the price taker. In imperfect no new competitors enter the industries hence super normal profits will continue to be realised, unlike in perfect comp
In imperfect competition the producer is the price maker. Whereas in perfect the producer is the price taker meaning there are many producers and no one can influence the price.
the difference between perfect and imperfect oligopoly
What is the difference between perfect competition and pure monopoly
Product differentiation
In monopolistic competition, sellers can profit from the differences between their products and other products.
Shut
In imperfect competition the producer is the price maker whereas in perfect the producer is the price taker. In imperfect no new competitors enter the industries hence super normal profits will continue to be realised, unlike in perfect comp
IBM is a company, so it can't be a perfect competition. Only industries can be a perfect competition, or not.
Perfect competition to what. Please be specific.
In economics, perfectly competive markets are those where neither consumer nor producer have influence over prices; they are price takers. Examples follow:Agritgultural Products, commodities such as corn and wheatSemiconductorsUnskilled Labour
No, Perfect Competition is just an imaginary one and it does not exist at all.
Perfect competition is a market structure where there are many small firms selling identical products, with no barriers to entry or exit. Characteristics include identical products, perfect information, ease of entry and exit, and no market power for individual firms. An example would be the agricultural market for corn or wheat.