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Perfectly Competitive Market

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PPGPortal > Home > Concept Dictionary > P, Q > Perfectly Competitive Market
 

Perfectly Competitive Market

A situation in which many sellers attempt to sell a product at the highest price the market will bear.

(Dwayne Benjamin, PPG 1002H)

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The strict definition of a competitive market is any market in which no individual actor has enough economic power to either influence the supply or demand curve.

     

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