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why perfectly competetive model has been retained as the basic model for application within agricultural production economics to farming in south africa

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why perfectly competetive model has been retained as the basic model for application within agricultural production economics to farming in south africa
Answered Same Day Dec 22, 2021

Solution

David answered on Dec 22 2021
120 Votes
Why perfectly competitive model has been retained as the basic model for application within
agricultural production economics to farming in South Africa?
Answer:
A perfect competitive market structure is a market structure in which the following criterion are
met:
1) All firms sell identical products
2) Large number of buyers
3) Large number of...
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