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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

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. It is, however difficult to find many examples of perfect competition in the real world. Perfect competition is really a benchmark against which we compare other market structures in the real world.

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