If a market changes from oligopoly to perfect competition,then as a result

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In perfect competition, there are many small firms competing against each other, which results in lower prices and higher output. This means that in the long run, output should increase as firms try to gain a competitive advantage, increase market share and meet consumer demand at lower prices. However, since there are many firms, each with a smaller market share, profitability may not necessarily rise in the long run.

If a Market Changes from Oligopoly to Perfect Competition,then as a Result