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So I hear the phrase "perfect competition" a lot when referring to "economic monopoly". What is perfect competition and what makes it that way to be

So I hear the phrase "perfect competition" a lot when referring to "economic monopoly". What is perfect competition and what makes it that way to be called that? can someone enlighten me on this?

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Perfect competition is a market structure in which  there are large number of sellers producing homogeneous goods. Essential... View the full answer

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a perfect competition is a market where... View the full answer

1 comment
  • and also all these point make it highest degree of competition to sell, that's why known as perfect competition
    • ujjawal2610
    • May 17, 2018 at 7:49pm

Hi, here is a guide for your answer. Thank you.... View the full answer

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