What Is the bottom line on the advantages , and disadvantages of Imperfect competition . To begin with. the question of versus competition” is to O simple to be useful!- it Is much like asking whether big animals are more efficient than small animals. As the emphasizes. there is a vast ~ of species of imperfect competition. Most have evolved to handle the special characteristics of the market they deal with-automobile firms are large publicly owned companies because they need to raise capital to pin the inefficiencies of mass production lawyers are organized In partnerships because of the need to pool enhance trust among clients are nonprofit because profits and teachable are hard to mix; farms are operated by families because of the need to perform a wide of activities In sparsely populated regions.
In virtually all cases, as Milton Friedman states In his quote on page 198. governments are choosing diamond evils when they curb power. two centuries of structures. many economists have concluded that the of these & barriers to entry and exit and & prohibitions collusion are the surest formula for monopoly Innovation.
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