doesn't have to be super complex.

The market structure of perfect competition has a lot of ideal qualities-hence the name perfect. For example, perfectly competitive firms are productively efficient, and perfectly competitive markets are allocationy efficient. It is, however, difficult to find many examples of perfectly competition in the real world. Perfect competition is really a benchmark against which we compare other market structures in the real world. Where is the competition in perfect competition? If the supplier has to take the price set in the market, and has negligible part of the total supply why would this be called most the most competitive of all markets. In perfect competition the seller only has control over production costs resulting in least cost production in the long run. How much actual competition occurs in these perfectly competitive markets? Explain