Cat-shin-shoe
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Discuss the proposition that perfect competition is always in the consumers best interest
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Puddles the Monkey
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(Original post by Cat-shin-shoe)
Discuss the proposition that perfect competition is always in the consumers best interest
hey - sorry you didn't get a response to this I've popped this in Study Help for you. Hopefully someone will be able to get back to you here
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abhinair3004
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In a Perfect Competition market, the sellers will always try to attract more buyers with new schemes and offers (since the product is widely similar). Due to this the consumers will always get the best offers/deals. Hence, a perfect competition market will always be in the consumers best interest
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TeeEff
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The counter point to the above of course is if it's in the consumer interest for products to be homogenous in nature. If you want innovative progression of a product, perfect competition is not necessarily the best as firms are put off from R&D costs etc. if they cannot make a profitable return.
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