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04-10-2020
Business

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What is the difference between pure competition and perfect competition in market structure?

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04-10-2020

Answer:

Pure competition

provides the benchmark that can be use to evaluate markets while

Perfect competition

is a form of market in which there are a large number of buyers and sellers competing with each other in the purchase and sale of goods, respectively and no individual buyer or seller has any influence over the price.

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