Perfect Competition (1) - The 4 Assumptions

The four assumptions behind the model of Perfect Competition.

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[@LadyJane31049]

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[@sahazadshad]

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[@deggimatt]

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[@legendaryrecords2008]

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[@hanab29]

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[@TheWyvern66]

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[@abadibi]

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[@ThisAndThat4All]

Thank you so much!!

[@jaslyn1211]

this is helpful, thank you.

[@SteveGouldinSpain]

..no externalities then?

[@rogerstrickland4004]

The appeal of free markets is their models - logical, with a beautiful symmetry. And in assuming away things like externalities, the speed of market adjustments (and dislocations that go with them), and looking only at efficiency, not equity, they are beguiling. And misleading. ;) 'The truth is out there somewhere.' Markets are part, but not all, of that truth. Thanks for your comment.

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