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Perfect competition is a market in which there are many firms, each selling an identical product; many buyers; no barriers to the entry of new firms into the industry; no advantage to established firms; and in which buyers and sellers are well informed ab

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Perfect competition is a market in which there are many firms, each selling an identical product; many buyers; no barriers to the entry of new firms into the industry; no advantage to established firms; and in which buyers and sellers are well informed ab
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