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Q: defintion of Perfect Competition
A: In economic theory, perfect competition describes markets such that no participants are large enough to have the market power to set the price of a homogeneous product.
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Asked 9/27/2012 6:42:45 PM
Updated 7/1/2014 3:37:42 PM
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In economic theory, perfect competition describes markets such that no participants are large enough to have the market power to set the price of a homogeneous product.
Added 7/1/2014 3:37:42 PM
This answer has been confirmed as correct and helpful.
Confirmed by yumdrea [7/1/2014 3:53:23 PM]
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