Perfect competition is a theoretical model with many buyers and sellers offering identical products. In this model, firms cannot influence prices and make zero long-term profit due to free entry and ...

Steven Nickolas is a writer and has 10+ years of experience working as a consultant to retail and institutional investors. Suzanne is a content marketer, writer, and fact-checker. She holds a Bachelor ...

James McWhinney is a long-tenured Investopedia contributor and an expert on personal finance and investing. With over 25 years of experience as a full-time communications professional, James writes ...