The correct answer is: D. Prof. Marshall
Perfect competition is a market structure in which there are many buyers and sellers of a homogeneous good or service, and no single buyer or seller has a large enough share of the market to influence the market price. In a perfectly competitive market, firms are price-takers, meaning that they must accept the market price for their goods or services.
The concept of perfect competition was first developed by Alfred Marshall in his book “Principles of Economics” (1890). Marshall argued that perfect competition was the ideal market structure, as it would lead to the most efficient allocation of resources.
However, perfect competition is rarely found in the real world. In most markets, there are some firms that have a larger share of the market than others. These firms are known as “oligopolists”. Oligopolists have some power to influence the market price, but they are not able to set the price completely arbitrarily.
There are a number of reasons why perfect competition
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