11 Perfect Competition
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©2005 Pearson Education, Inc. Chapter 81 0 5 10 15 20 25 101520253035404550 Distribution of Grades Midterm #2 Mean = 28.30 Median = 29.
1. PERFECT COMPETITION: A MODEL Learning Objectives 1.Explain what economists mean by perfect competition. 2.Identify the basic assumptions of the model.
