Unit ? · Lesson ?
Perfect Competition

What’s so perfect about perfect competition? In this introductory video on perfect competition, you’ll learn about one of the key market structures – perfect competition. The video explains the core assumptions of perfect competition, such as no barriers to entry, perfect information, and profit maximization. You’ll discover how these conditions lead to efficient outcomes and why perfect competition is an important benchmark for understanding real-world markets. Join Professor Chad Syverson to explore how economists use the concept of perfect competition to analyze market dynamics and predict economic behavior.