Question
Strictly speaking, perfect competition has never existed and probably never will. Then why study it?
Discuss the major barriers to entering into an industry. Explain how each barrier can foster either monolopy or oligopoly. which barrier, if any, do you feel give rise to monopoly that is socially justifiable?
Discuss the major barriers to entering into an industry. Explain how each barrier can foster either monolopy or oligopoly. which barrier, if any, do you feel give rise to monopoly that is socially justifiable?