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Tag: Perfect Competition

Perfect Competition and Lack of Economic Alternatives

Classical Economics relies on Monopoly models, Oligopoly models, and Perfect Competition. Their predictive power and accuracy are up for discussion, but they do help (especially economics students) to illustrate and explain macroeconomic behavior. During a recent stay in Zambia, I observed the consequences of lacking alternatives for economic actors.

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May 6, 2014 Economics
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