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choli [55]
2 years ago
8

Strictly speaking pure competition is relatively rare. then why do we study it

SAT
1 answer:
ivanzaharov [21]2 years ago
3 0

The study of pure competition in economics is because it describes a perfect situation of low-cost production and allocative efficiency which serves as a criteria of comparison.

<h3>What is pure competition in economics?</h3>

Pure competition in economics is the study of the marketing situation in where a large number of sellers of a similar product such that no significant influence on price is produced by any one firm.

The study of pure competition serve as as basis of comparison as it produces ideal results.

In conclusion, pure competition serves as a criteria for comparison.

Learn more about pure competition in economics at: brainly.com/question/1964924

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