What Assumptions Are Necessary for a Market to Be Perfectly

question 275

Essay

What assumptions are necessary for a market to be perfectly competitive? Explain why each of these assumptions is important.

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Definitions:

Internet Connection

The means by which individuals or organizations access the Internet, using technologies like DSL, cable modem, Fiber, or wireless.

Availability

The degree to which a system, component, or data is accessible and usable upon demand by an authorized entity.

Outsources

The practice of hiring third parties to perform services, handle operations, or provide goods that are either difficult to manage or outside the company's expertise.

Web-based

Refers to applications or services that are accessed over the internet through a browser, as opposed to those installed locally on a device.