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how can we explain perfect market in short run period?? Posted by tj717 on Oct 22, 2009. |
Business Group
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I have not come across the concept of perfect market. But There is a somewhat related concept called perfectly competitive market. It is primarily theoretical concept used in economics. In realty, perfectly competitive markets do not exist. Only markets with fairly good degree of competition exist which for some purposes in economic analysis be treated as fully competitive market. The question of short run and long run comes up while studying the impact of some changes that may occur in the market. A perfectly competitive market is defined as one with following characteristics.
Posted by krishna-agrawala on Oct 23, 2009. |

