Asked by
Gossip Arena
on Oct 08, 2024
Verified
The term imperfect competition refers to every market structure besides pure competition.
Imperfect Competition
A market structure characterized by the presence of several competing firms but which lack the conditions of perfect competition, often leading to market power.
- Assess the consequences of various market structures on the conduct of firms and the resulting market dynamics.
Verified Answer
PJ
Learning Objectives
- Assess the consequences of various market structures on the conduct of firms and the resulting market dynamics.
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