Advantages of perfect competition:
1. There is consumer independence in a perfect competitive market. The consumer is rational and he has perfect information about the market situation. Hence, he will not purchase the products high price.
2. In perfectly competitive market, the price is equivalent to the minimum average cost. This is advantageous to the consumer.
3. The perfectly competitive organizations are price-takers and products are homogeneous. Hence it is not essential for the producers to acquire expenditure on advertisement to promote sales. This decreases the wastage of resources.
4. In long run, the perfectly competitive firm is functioning at optimum level. This means that greatest economic efficiency in production is attained. Since the actual output generated by the firm is equivalent to the optimum output, there is no idle or unemployed or surplus capacity.
Latest technology based Economics Online Tutoring Assistance
Tutors, at the www.tutorsglobe.com, take pledge to provide full satisfaction and assurance in Perfect Competition help via online tutoring. Students are getting 100% satisfaction by online tutors across the globe. Here you can get homework help for Perfect Competition, project ideas and tutorials. We provide email based Perfect Competition help. You can join us to ask queries 24x7 with live, experienced and qualified online tutors specialized in Perfect Competition. Through Online Tutoring, you would be able to complete your homework or assignments at your home. Tutors at the TutorsGlobe are committed to provide the best quality online tutoring assistance for Economics Homework help and assignment help services. They use their experience, as they have solved thousands of Economics assignments, which may help you to solve your complex issues of Perfect Competition. TutorsGlobe assure for the best quality compliance to your homework. Compromise with quality is not in our dictionary. If we feel that we are not able to provide the homework help as per the deadline or given instruction by the student, we refund the money of the student without any delay.
Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!