Question: Write a response to the following question. Is the perfectly competitive model a good benchmark for an economic system which uses a Biblical worldview? Use

Write a response to the following question.

“Is the perfectly competitive model a good benchmark for an economic system which uses a Biblical worldview?

Use Scriptural support where appropriate and also comment on the perfectly competitive model as a guide for public policy. What should be the role of government in the industries characterized by conditions similar to perfect competition?

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The Perfectly Competitive Model and a Biblical Worldview The perfectly competitive model represents an ideal market situation where numerous small firms are price takers there is free entry and exit i... View full answer

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