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17 July, 17:14

In a perfect competition, companies set output and prices where marginal revenue equals. Perfect competition benefits consumers because prices will be than in other market structures.

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  1. 17 July, 19:21
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    Market equilibrium means that companies set prices where marginal revenue equals marginal cost.

    Perfect competition would lead to lower prices than any other market type.
  2. 17 July, 20:27
    0
    1. marginal cost 2. lower

    Explanation:

    In a perfect competition, there are many buyers and sellers. When there are large numbers of buyers and sellers, no single buyer or seller has significant control of the market.

    In a perfect competition, there are no barriers to entry. In a perfectly competitive market, there would be nothing to obstruct a business from entering any given market.

    RASEL
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