If no real-life industry meets the conditions of the perfectly competitive model exactly, why do we study
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If no real-life industry meets the conditions of the perfectly competitive model exactly, why do we study perfect competition? What is the relevance of the model to a decision to switch careers? How might it shed some light on pollution, acid rain, and other social problems?
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Studying perfect competition is valuable for several reasons despite the fact that no reallife indus...View the full answer
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