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Answer to Question #267613 in Economics for Nalyn

Question #267613

Assess why perfect competition is a more ideal market structure than oligopoly.


1
Expert's answer
2021-11-18T14:48:51-0500

Perfect competition is present in the retail grocery market: there are many sellers, products are similar, prices are open. Monopolistic competition is observed in the segment of loan offers from banks: their differences from each other in detail.


Oligopoly is an extreme degree of monopolistic competition: the market is controlled by several participants.


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