imperfect competition
noun[U]
ECONOMICSukusthesituationin which there is little or nocompetitionin amarket, forexample, because there is only onecompanysellingaproductand it cancontrolitspriceandsupply
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perfect competition
Examplesofimperfect competition
imperfect competition
An oligopsony is a form ofimperfectcompetition.
From
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This example is from Wikipedia and may be reused under a CC BY-SA license.Unlike perfect competition,imperfectcompetitioninvariably means market power is unequally distributed.
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This example is from Wikipedia and may be reused under a CC BY-SA license.Later microeconomic theory distinguished between perfect competition andimperfectcompetition, concluding that no system of resource allocation is more efficient than perfect competition.
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This example is from Wikipedia and may be reused under a CC BY-SA license.The correct sequence of the market structure from most to least competitive is perfect competition,imperfectcompetition, oligopoly, and pure monopoly.
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This example is from Wikipedia and may be reused under a CC BY-SA license.In the real world, markets often experienceimperfectcompetition.
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This example is from Wikipedia and may be reused under a CC BY-SA license.Hence the fiscal multiplier is less than one, but increasing in the degree ofimperfectcompetitionin the output market.
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This example is from Wikipedia and may be reused under a CC BY-SA license.He was a seminal contributor to the macroeconomics ofimperfectcompetition, and has published extensively on labor economics, macroeconomic theory and policy, and the design of welfare systems.
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This example is from Wikipedia and may be reused under a CC BY-SA license.The reason for this is thatimperfectcompetitionin the output market tends to reduce the real wage, leading to the household substituting away from consumption towards leisure.
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This example is from Wikipedia and may be reused under a CC BY-SA license.This paper was the first to demonstrate in a simple general equilibrium model that the fiscal multiplier could be increasing with the degree ofimperfectcompetitionin the output market.
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This example is from Wikipedia and may be reused under a CC BY-SA license.Since at least the 1960s, macroeconomics has been characterized by further integration as to micro-based modeling of sectors, including rationality of players, efficient use of market information, andimperfectcompetition.
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This example is from Wikipedia and may be reused under a CC BY-SA license.These examples are from corpora and from sources on the web. Any opinions in the examples do not represent the opinion of the Cambridge Dictionary editors or of Cambridge University Press or its licensors.