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Business, 09.10.2019 23:00 imknutson962

The late nobel prize-winning economist george stigler once wrote, "the most common and most important criticism of perfect [is] that it is unrealistic."
source: george stigler, "perfect competition, historically contemplated," journal of political
economy, vol. 55, no. 1, (february 1957), pp. 1-17.

despite the fact that few firms sell identical products in markets where there are no barriers to entry, economists believe that the model of perfect competition is important because

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