Short and long run position

Subject: Customer Relationship Management

Paper Model: APA

Paper Type: Case Study

Total Words: 699

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In perfect competition, there exists no entry barrier. Inn perfect competition many producers as well as consumers


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In perfect competition, there exists no entry barrier. Inn perfect competition many producers as well as consumers. There is no exit barrier in perfect competition. In perfect competition, homogenous goods are produced. In perfect competition it is provided to producers to decide how much to produce but they cannot take decision of price by themselves. There exists perfect information related with market in such competition. Property rights are also well defined in perfect competition. There is no transaction cost in this type of competition.  On the other hand, in monopoly, there is entry to exit as well as barriers. It is opposite to perfect competition in term of producers. In perfect competition, there exist many consumers and many producers.

 On the other hand, in monopoly, there exists only one producer. He produces for large number of consumers. In perfect competition,. Due to existence of homogenous goods, producers cannot decide about prices. On the other hand, in monopoly, due to non-existence of substitute goods, producers can charge prices according to their will. It is assumed in perfect6 competition that consumers are aware of information related with production of goods. There exists different between two competitions on basis of efficiency. Perfect competition is considered highly efficient.

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