Another example of perfect competition is the market for unbranded products, which features cheaper versions of well-known products. Product knockoffs are generally priced similarly and there is ...

Still, commodity markets lack some of the hallmark traits of a perfectly competitive market. For example, it’s not exactly easy or cheap to set up a flour mill or plant a cornfield, nor is it ...

While a perfectly competitive electricity market would indeed be in the best interest of consumers, producers and distributors, the fact is that perfect competition is an illusion, and in practice ...