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In the class we talked at length about the potential advantages to the perfect competition market model and the fact that very few real markets
In the class we talked at length about the potential advantages to the perfect competition market model and the fact that very few real markets can be categorized as perfectly competitive. However, suppose there was the real possibility that suddenly all existing markets could function as perfect competition. Is that necessarily a desirable outcome? Are there any fundamental downsides to the perfect competition model?
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