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Sample Assignment:

Characteristics of perfect competition

Keywords:

Perfect competition, Monopoly market, polluting, Tradable emission permits, oligopoly

The key characteristics of perfect competition are based on a number of factors. Firstly, the industry in perfect competition consists of a large number of firms. Each firm is so small that its input and individuality has no effect on the price of the product sold. The firms are price takers and sell at the price where demand and supply equals.

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