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Perfect competition

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Discuss on the model of perfect competition and adopting strategies to gain market power in competitive industries.

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This solution articulates perfect competition and adopting strategies.

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It can generally be inferred that what primarily distinguishes organizations from each other is the degree of competition that each face. As such, perfect competition is amongst such degrees of competition. The model of perfect competition is based upon the assumption that within a marketplace, goods offered for sale are identical in nature, making them hard to separate or distinguish from each other. As such, many sellers and buyers will exist within such a scenario, where each finds that they are unable to affect the ...

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