7: Perfect Competition
- Page ID
- 330509
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Introduction
Perfect competition represents a market structure where many firms sell identical products and entry or exit is easy. In this chapter, you will learn how perfectly competitive firms make production decisions, achieve efficiency, and respond to long-run market dynamics.
By the end of the chapter, you will be able to:
Thumbnail: Farmers Market (CC BY 2.0: Phil Roeder via Flickr).


