In theory and in practice, labour markets are always competitive.

Name: In theory and in practice, labour markets are always competitive.
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In theory, labour markets are assumed to be perfectly competitive, but in reality, there can be many factors that prevent perfect competition, such as monopsony power of employers, barriers to entry for workers, and information asymmetry. Therefore, labour markets may not always be competitive in practice.

In Theory and in Practice, Labour Markets Are Always Competitive