What is the primary requirement for a market to be competitive? Is competition necessary for markets to
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What is the primary requirement for a market to be competitive?
Is competition necessary for markets to work well? Why or why not? How does competition in uence the following:
(a) the cost ef ciency of producers,
(b) the quality of products, and
(c) the discovery and development of new products? Explain your answers.
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Related Book For 
Microeconomics Private And Public Choice
ISBN: 9781305506893
16th Edition
Authors: James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
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