Disadvantages of Perfect Competition?

Answer

Some of the disadvantages of perfect competition include the absence of product choices, minimal profit, no reason for technology development, no economies of scale, and changes in production will result to losses. Perfect competition is a situation where all businesses offer the same products at the same price. In this situation, none of the businesses will have an advantage over their competitors.
Q&A Related to "Disadvantages of Perfect Competition?"
n insufficient profits for investment. n (ii) lack of product variety. n (iii) lack of competition over product design and specification. n (iv) unequal distribution of goods &
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The rates are regulated. The quality of the products is very very good. The service is prompt. But in this case the cartels can be made. There can be speculation. The small players
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Along with the advantage already listed (i.e. choice) economic competition forces companies and countries to increase their efficiency and continually seek ways to improve their production
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Market condition wherein no buyer or seller has the power to alter the market price of a good or service. Characteristics of a perfectly competitive market are a large number of buyers
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