Difference between revisions of "Competition"
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[[Competition]] is a situation in which there are many individuals or firms, so that the actions of any one of them do not influence market prices. | [[Competition]] is a situation in which there are many individuals or firms, so that the actions of any one of them do not influence market prices. | ||
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According to [[Macroeconomics by Mankiw (7th edition)]], | According to [[Macroeconomics by Mankiw (7th edition)]], | ||
:[[Competition]]. A situation in which there are many individuals or firms, so that the actions of any one of them do not influence market prices. | :[[Competition]]. A situation in which there are many individuals or firms, so that the actions of any one of them do not influence market prices. | ||
[[Category: Economics]][[Category: Articles]] | [[Category: Economics]][[Category: Articles]] | ||
Revision as of 12:03, 10 May 2023
Competition is a situation in which there are many individuals or firms, so that the actions of any one of them do not influence market prices.
Definitions
According to Macroeconomics by Mankiw (7th edition),
- Competition. A situation in which there are many individuals or firms, so that the actions of any one of them do not influence market prices.
