Microeconomics



Microeconomics

Perfect Competition for Daily Farmers

The market structure for dairy farmers is perfectly competitive because there are no other industries or participants who are large to have market power. There are no other participants in this market who could set prices for such homogenous dairy products. This is the basic reason for the prevailing perfect competition for dairy farmers. This perfect competition has helped the corporate farmers and decreased the productivity of family farming. The main advantage of corporate farming is their efficiency in producing dairy products. The efficient processes involved in the production of dairy products included in corporate farming ...