Nicholas Barr Quote

Perfect competition must hold in product and factor markets, and also (and importantly) in capital markets. The assumption has two essential features: economic agents must be price takers; and they must have equal power.

Chapter 4, State Intervention, p. 73 - Economics Of The Welfare State (Fourth Edition)

Perfect competition must hold in product and factor markets, and also (and importantly) in capital markets. The assumption has two essential...

Perfect competition must hold in product and factor markets, and also (and importantly) in capital markets. The assumption has two essential...

Perfect competition must hold in product and factor markets, and also (and importantly) in capital markets. The assumption has two essential...

Perfect competition must hold in product and factor markets, and also (and importantly) in capital markets. The assumption has two essential...