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What is imperfect competition and it's forms? Explain it.
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written 3.5 years ago by
prajapatijaimin
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Solution:
Imperfect competition:
The market structure may be imperfect because the number of firms in the industry maybe relatively small, and the commodity or service may not be homogeneous.
A small number of firms may compete vigorously with one another. Thus, in real life, it is imperfect for the competitive …
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