What is Perfect Competition

Perfect markets, also known as atomistic markets, are defined by a number of idealizing conditions that are together referred to as perfect competition or atomistic competition. This definition is found in the field of economics, more specifically in the theory of general equilibrium. In theoretical models when circumstances of perfect competition are present, it has been proved that a market will establish an equilibrium in which the quantity supplied for every commodity or service, including labor, matches the amount required at the current price. This equilibrium will be reached when the perfect competition criteria are met. An example of a Pareto optimal equilibrium would be this one.

How you will benefit

(I) Insights, and validations about the following topics:

Chapter 1: Perfect competition

Chapter 2: Duopoly

Chapter 3: Microeconomics

Chapter 4: Monopoly

Chapter 5: Monopolistic competition

Chapter 6: Oligopoly

Chapter 7: Imperfect competition

Chapter 8: Profit maximization

Chapter 9: Economic equilibrium

Chapter 10: Marginal cost

Chapter 11: Monopoly profit

Chapter 12: Market power

Chapter 13: Marginal revenue

Chapter 14: Marginal revenue productivity theory of wages

Chapter 15: Bertrand competition

Chapter 16: Long run and short run

Chapter 17: Competition (economics)

Chapter 18: Profit (economics)

Chapter 19: Factor market

Chapter 20: Bertrand-Edgeworth model

Chapter 21: Monopoly price

(II) Answering the public top questions about perfect competition.

(III) Real world examples for the usage of perfect competition in many fields.

Who this book is for

Professionals, undergraduate and graduate students, enthusiasts, hobbyists, and those who want to go beyond basic knowledge or information for any kind of Perfect Competition.