Difference between revisions of "Competition"

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(Created page with "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. ==Definition== According t...")
 
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[[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.
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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.
  
 
==Definition==
 
==Definition==

Revision as of 17:30, 1 July 2020

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.

Definition

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.